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SmarTire monitoring systems to extend beyond cars, light trucks

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SmarTire Systems Inc. is developing tire pressure monitoring systems to keep tabs on air pressure levels in motorcycle, industrial vehicle and commercial recreational vehicle tires, the company said in a release today.

Right now, SmarTire's system covers passenger cars and light trucks like pick-ups and SUVs.

Tire pressure monitoring systems will be mandatory on new cars and light trucks in the United States after 2003, thanks to the TREAD (Transportation Recall Enhancement, Accountability and Documentation) Act.

SmarTire also recently issued 750,000 shares for gross proceeds of $1.3 million and has hired large banking firm H.C. Wainright & Co. Inc. to be its financial advisor.

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