SmarTire Secures $5 Million Order To Supply Taiwanese Tour Bus Industry
RICHMOND, BC, June 14, 2004; SmarTire Systems Inc. announced today that the Company in conjunction with its Master Distributor in China, Beijing Boom Technology Co. Ltd., has finalized a major sales order with its exclusive dealer in Taiwan, Chu Chang International Ltd. The order valued at approximately $5 million involves the delivery of the Company's tire pressure monitoring systems (TPMS) over a period of 12 months commencing later this month. The products being ordered are the Company's SmarTire for Buses for application in the tourist bus industry.
John Taylor-Wilson, VP Sales & Marketing, SmarTire Systems Inc. reported, "This Taiwanese order is extremely noteworthy for several reasons. It reflects the high level of importance being placed on tire safety by bus operators especially within the tourist industry, which we believe will result in greater demand for TPMS. The sale represents our first significant order for SmarTire's high pressure TPMS for commercial vehicle applications and demonstrates that we are receiving recognition in this major market with our SmarTire for Buses solution."
"Having seen firsthand the tragic consequences of a tire blowout on a tour bus, I am very pleased to be introducing SmarTire's pressure monitoring systems to the tour bus industry in Taiwan," says Mr. Zhn Hsen Lee, co-founder of Chu Chang International Ltd. "Safety is the utmost priority in Taiwan and we consider tire pressure monitoring a critical safety system. We look forward to a positive relationship with SmarTire as our company actively leads the campaign for the widespread adoption of TPMS in Taiwan."
SmarTire Systems Inc. develops and markets proprietary tire monitoring systems for the transportation industry worldwide. Incorporated in 1987, SmarTire is a public company with offices in North America and Europe. Additional information can be found at www.smartire.com