SmarTire Modifies Manufacturing Agreements

SmarTire Systems Inc has expanded its manufacturing agreement with Vansco Electronics LP. Under the agreement, Vansco will manufacture key subsystems for SmarTire’s wireless gateway family of products. SmarTire also announced the termination of its contract manufacturing agreement with Hyundai Autonet Company, Ltd (“HACO”) in Korea, which was terminated as a result of HACO’s acquisition by Hyundai.

SmarTire President and CEO Al Kozak said, “SmarTire has expanded its relationship with Vansco, co-developer of our wireless gateway receiver. The product is manufactured in Vansco’s primary facility in Winnipeg, Canada, where we have valuable support from Vansco’s development and test engineers. Under the new agreement, Vansco will manufacture our tyre transmitter products in its recently acquired Morton, Illinois, facility, which is registered to TS16949 quality standards and has a long record of producing reliable sensors and related products for vehicle manufacturers. Volume shipments of products from Vansco will commence this December and we will complete the transition with no interruption of supply to any of our customers.”

Vansco vice president Andre Granger said, “We are pleased to participate in SmarTire’s business as a co-developer and manufacturer. By participating at the development and manufacturing levels, we are able to provide a high level of support to SmarTire and its customers. We look forward to building and enhancing a positive, long-term relationship with SmarTire.”