SmarTire, Schrader settle TPMS patent dispute

ERJ staff report (DS)

Richmond, British Columbia,-- SmarTire Systems Inc. said it has settled its patent infringement lawsuit against Schrader-Bridgeport International Inc. and Schrader Electronics Ltd. ("Schrader") that was pending in the United States District Court for the Eastern District of Virginia.

SmarTire said Schrader has acknowledged the validity and enforceability of Smartire's United States Patent No. 5,231,872, and said Schrader has taken out a licence for SMarTire's technology. Terms of the settlement were not disclosed.

Last September SmarTire issued a complaint against Siemens VDO Automotive Corp. and Schrader-Bridgeport International, Inc. alleging infringement of its United States Patent No. 5,231,872, entitled “Tire Monitoring Apparatus and Method"

Dave Warkentin, President of SmarTire, said, "We are very pleased with both the financial and non-financial aspects of this settlement and regard it as a positive conclusion to the action undertaken just over a year ago. This should positively impact our business as we continue to vigorously defend our intellectual property rights."

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Press release from SmarTire Systems

Press release from SmarTire announcing the action