For Immediate Release – January 16, 2001
Toronto, Ontario – Spectra Inc. (SSA: CDNX) reports it has acquired the future patent rights and manufacturing rights to the innovative Brake Inspector TM electronic brake diagnostic system from Brake Inspector Inc.. Spectra Inc., through its wholly owned subsidiary, Spectra Products Inc., has taken an assignment of the patent filed in the United States and will proceed to file appropriate patent applications in Canada and International jurisdictions. Spectra Products has acquired the existing inventory of Brake Inspector TM product, raw materials and equipment and has entered into a consulting contract with Brake Inspector Inc. for technical and customer support for the electronic brake diagnostic system. Spectra Products has secured a right of first refusal on all new products developed by Brake Inspector Inc..
“Brake Inspector TM is creating quite a stir in the transportation industry”, stated Andrew Malion, Chairman of Spectra Inc.. “We recently sold systems in Canada to Coca-Cola Ltd. and Atlantic Packaging for fleet evaluation and we have a number of trucking companies considering purchases for trial evaluation in Canada and the United States. In the bus industry, we have trial evaluations underway with Can Ar Coach and are pursuing discussions with several mass transit companies.”
“Brake Inspector TM was recently introduced at the Great American Truck Show in Dallas, Texas and received significant interest from both truck and bus transportation companies”, commented Terry Faye, Director of Sales and Technical Support. “The fact that Brake Inspector TM is a proven, effective diagnostic tool for identifying underlying faults in the foundation braking system is giving rise to enthusiastic response from bus and truck fleets, suppliers and repair facilities.”
Brake Inspector TM, through a system status module in the vehicle’s cab, provides drivers continuous, real time information on the braking capabilities of trucks, trailers and buses while the equipment is operating. Brake Inspector TM is an excellent diagnostic tool that will warn operators and maintenance staff of problems in the overall brake system resulting in significant dollar savings from reduced time to complete Preventative Maintenance Inspections, costly brake repairs and improved fleet productivity.
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.
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 |
