SmarTire shareholders ratify deal with Bendix
RICHMOND, B.C. — SmarTire Systems shareholders have agreed to terms of the acquisition of certain assets by Bendix, the companies have reported.
Bendix said that the addition of the tire pressure monitoring system diversifies its business.
“The final approval of the SmarTire asset acquisition will enable Bendix to continue to provide a full range of commercial vehicle systems solutions that improve highway safety for our customers and everyone on the road,” said Scott Burkhart, vice-president, controls business unit at Bendix. “Despite current market conditions, Bendix has continued to expand its technological offerings, while diversifying its business.”
Shareholder ratification was the final step in Bendix’s acquisition of SmarTire, which was first announced in December, 2008.
The SmarTire system, also marketed as SmartWave TPMS, is available through Volvo, Navistar International, Caterpillar and through Paccar Parts.
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