Restructuring For Smartire Strategic Alliance

Smart tyre technology market leader Smartire has announced a restructuring of its strategic alliance with TRW. Elements of agreements entered into during the research and development process in 1998 will be cancelled. Smartire is to pay TRW $3.

3 million (3.7 million Euro) in cash and debt in regard to the transaction. TRW will continue to hold a considerable equity in Smartire, but the restructuring of the alliance will allow both companies to fully pursue a wide range of global market opportunities.