Tomkins awarded remote tire pressure monitoring contract by GM.
LONDON--(BUSINESS WIRE)--Dec. 11, 2001
Schrader Electronics, part of Tomkins Industrial and Automotive Division, has been awarded a contract to supply remote tire pressure monitoring systems ("RTPMS") to General Motors light truck platforms.
The contract provides for the supply of RTPMS to future General Motor's North American light truck production and includes Opel and Fiat production in Europe and Isuzu and Subaru production in Japan for vehicles to be sold into the U.S. market. Schrader Electronics already supplies RTPMS to GM's Corvette and Cadillac brands in the U.S.
Schrader Electronics is based in Northern Ireland and is the market and technology leader in remote tire pressure monitoring systems. The RTPMS allows drivers to monitor their vehicle's tire pressures by using electronic sensors attached to the tire valves to transmit pressure data from each wheel to displays on the dashboard or rear view mirror. Such systems will be compulsory on all cars produced in the USA under the TREAD Act and are also being made available by car producers across the world.
David Newlands, Chairman of Tomkins PLC, commented: "We are delighted that General Motors has selected Schrader for its light truck platforms. RTPMS is likely to become a standard safety feature in all vehicles during the next few years, not just in the USA where it will be compulsory. We anticipate that Schrader's leading technology will enable it to retain its market leader position in this significant new growth market."
Tomkins is a global engineering group of businesses with market and technical leadership positions, manufacturing value added systems and components for the automotive, industrial and construction industries.
Tomkins shares trade in the US in ADR form (each equal to four ordinary shares) on the New York Stock Exchange under the symbol TKS; its ordinary shares are listed on the London Stock Exchange.
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|Date:||Dec 11, 2001|
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