SmarTire signs Chinese distribution agreement in principle

SmarTire Systems has announced that it has signed an agreement in principle appointing Beijing Boom Technology Co. Ltd. as the master distributor of SmarTire’s Tyre Pressure Monitoring Systems (TPMS) in China.

Beijing Boom Technology has agreed to purchase over $1.5 million in additional aftermarket passenger car TPMS systems at fixed intervals over the next twelve months. In order to maintain its status as SmarTire’s master distributor in China, Beijing Boom Technology must also purchase approximately 3.