SmarTire reaches agreement with Visteon

SmarTire Systems Inc. and Visteon Corp. have announced an agreement in principle to develop and market tire-monitoring devices for vehicle manufacturers. With this agreement, the two companies plan to offer tire-monitoring solutions to global automotive manufacturers for original equipment passenger car applications. Feedback to SmarTire and Visteon from automakers indicates the need to offer a range of solutions integrating direct measurement technology with existing automotive modules and electronic systems. “The agreement with Visteon represents a decisive critical step toward the integration of our technology into original equipment passenger car platforms,” said SmarTire president & CEO Robert Rudman. “Visteon is known for their systems integration ability and technical innovation with several global automakers." With the new Transportation Recall Enhancement Accountability and Documentation (TREAD) Act, improved tire safety standards will require tire pressure warning systems on new passenger cars and light trucks sold in the U.S. after 2003.