SmarTire Announces China Distributor Accord
SmarTire Systems Inc. announced that it has finalized an agreement appointing Beijing Boom Technology Co. Ltd. as the Master Distributor of SmarTire's Tire Pressure Monitoring Systems (TPMS) in China
SmarTire Systems Inc. announced that it has finalized an agreement appointing Beijing Boom Technology Co. Ltd. as the Master Distributor of SmarTire's Tire Pressure Monitoring Systems (TPMS) in China.
As per the agreement in principle, Beijing Boom Technology will purchase more than $1.5 million in aftermarket passenger car TPMS systems at fixed intervals over the next 12 months. In order to maintain its status as SmarTire's Master Distributor in China, Beijing Boom Technology is also required to purchase approximately $3.9 million in additional aftermarket passenger car TPMS systems during the 12-month period commencing Sept. 1, 2004.
Additional information can be found at www.smartire.com.
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