For Immediate Release – February 9, 2001
Toronto, Ontario – Spectra Inc. (SSA: CDNX) and Bendix Commercial Vehicle Systems, an operating unit of Honeywell International, announced today an exclusive, North American Distribution Agreement for the purchase, distribution and sale of Spectra’s visual brake stroke indicator and diagnostic system to the transportation industry.
Spectra manufactures an inexpensive, reliable product that permits fast and accurate visual inspection of air brake adjustment for trucks, tractors, trailers and buses while providing maintenance staff the capability of diagnosing various problems with the foundation braking system.
The alliance provides Spectra with unprecedented access to the trucking and busing industries. Bendix Commercial Vehicle Systems supplies air brake and filtration systems and components under the Bendix Ò brand name for heavy-duty trucks, tractors, trailers, buses and other commercial vehicles in North America. The company’s products include antilock brake systems, air compressors, air brake valves, air dryers and automatic slack adjusters, as well as remanufactured products and other components for tractors and trailers.
Spectra’s Brake Safe TM product will be distributed under the BendixÒ product name and will be marketed exclusively throughout the United States, Mexico and Canada. Spectra plans to convert its existing network of Brake Safe TM distributors to the Bendix supplied product line by midyear. Spectra values the agreement at approximately $4 million Canadian.
“We are extremely pleased to have our product selected by Bendix for exclusive North America wide distribution,” stated Andrew J. Malion Chairman of Spectra Inc.. “The growth of brake stroke indicators over the past four years has been nothing short of spectacular,” added Malion. “With the growing concern over truck safety and the introduction of higher fines and increased enforcement, the growth opportunity in North America is massive. Bendix’s commitment to promote and market Spectra’s brake stroke indicator through a network of over 3000 dealers, distributors and OEM manufacturers has positioned the Spectra/Bendix alliance to capture a leading share of this huge growth opportunity.”
Spectra Inc. is a vertically integrated supplier of innovative products and services to the Commercial Transportation Industry and the Professional Trucker. Spectra’s product line improves fleet safety and productivity and includes Brake Inspector TM, an electronic brake diagnostic system, Brake Safe TM, a visual brake stroke indicator, the Termin-8r TM line of anti-corrosion and extreme pressure lubricants and the revolutionary SmarTire TM, a wireless tire monitoring system. Spectra is positioned through its ISP portal, “Truckinguniverse.com”, to be a leading supplier of information to the transportation industry on the Information Superhighway, providing today’s modern trucker fast and easy access to industry specific information required to maximize profits and minimize down time.
Additional information on Bendix Commercial Vehicle Systems is available on the World Wide Web at http://www.bendix.com.
Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Company’s customers. Actual results and developments may therefore differ materially from those described in this release.
On behalf of the Board of Directors,
Andrew J. Malion, Chairman, Spectra Inc. www.spectra-ssa.com
Investor Relations: 1-800-308-5255 E-Mail: ssa@spectra-ssa.com
The TSX VENTURE Exchange has neither approved nor disapproved the information contained herein |
