By Liz White, ERJ staff
Boulder City, Nevada-Amerityre has signed a Memorandum of Understanding with Ace Products llc covering technology licensing for low-duty non-highway-use tyres.
The non-binding deal, announced 2 Aug by Amerityre president and ceo Richard Steinke, also involves Amerityre selling to Ace Products equipment to make the tyres, as well as the existing inventory of its closed-cell polyurethane Flatfree tyres.
The agreement is expected to be finalised by 16 Sept, subject to Ace competing due diligence and obtaining financing, said Amerityre in a statement.
Ace Products, headquartered in Newport, Tennessee, has three plants that provide a full line of semi-pneumatic rubber tyres, solid rubber tyres and plastic wheel assemblies for light- and heavy-duty applications.
"Ace Products has a commanding presence in key domestic markets, including agriculture, outdoor product equipment and mobility sectors,â€ said Steinke. We believe that this license provides Ace with an excellent opportunity to expand domestic markets for its products by manufacturing and selling tyres utilising Amerityre's proprietary technology,â€ he added, in the company statement.
Jeff Krajacic, president of Ace Products, said that the addition of Amerityre's products will expand ACE's portfolio, and help further its aim to become a one-stop shopâ€¦ [fulfilling] all of our customers plastic and rubber needs far beyond just wheels and tyres. This arrangement will help ACE become a preferred supplier to a broader customer base."