RICHMOND, British Columbia (Sept. 11)—SmarTire Systems Inc. has signed an agreement in principle, making Beijing Boom Technology Co. Ltd. the master distributor of SmarTire tire pressure monitoring systems in China. As part of the agreement, Beijing has agreed to purchase more than $1.5 million worth of additional aftermarket passenger tire pressure monitoring systems at fixed intervals over the next 12 months, SmarTire said in a release. The Chinese distributor also must purchase $3.9 million worth of additional aftermarket pressure monitors between Sept. 1, 2004, and 2005 and establish a network of certified dealers in all Chinese provinces by May 1. The two companies are working on finalizing the agreement.
SmarTire to link up with Chinese distributor for tire pressure monitoring systems
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