RICHMOND, B.C. — Bendix has finalized a deal to acquire SmarTire Systems, a tire pressure monitoring system developed in Canada.
Bendix didn’t disclose financial terms of the deal, which closed Dec. 11. However, Bendix announced it will immediately incorporate SmarTire’s assets into its own electronics business unit.
“The SmarTire asset acquisition is another mark of our continued commitment to provide our customers with a full range of innovative commercial vehicle braking system solutions. We strongly believe in the potential of this technology,” said Joe McAleese, Bendix president and CEO. “At the same time, this move is another important step in our overall business growth plan. Through continued diversification of our business and the incorporation of patent-protected technologies, we continue to strengthen our ability to deliver even more value to our customers and help ensure our sustainability now and in the future.”
“Tire pressure and temperature monitoring technologies – applicable for power vehicles, trailers, trucks, buses, and RVs – are efficient and cost-effective means to help reduce fuel consumption, enhance brake system performance, and reduce fleet operating costs. The system provides on-demand, real-time tire pressure status and automatically warns the driver of an under-inflated tire before it becomes dangerous,” added Scott Burkhart, vice president – controls business unit at Bendix.
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