For Immediate Release – June 23, 2003
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports that it’s wholly owned subsidiary, Spectra Products Inc., has signed an exclusive distribution agreement with Truck Trailer Transit Inc. of Detroit, Michigan for the Brake Inspector ä product line.
Truck Trailer Transit Inc. is a multi-million dollar corporation that has been servicing niche markets for heavy-duty commercial vehicle brake systems for over 20 years. The company has a dedicated sales force of 9 professionally trained and experienced salesmen servicing all North American Transit operations as well as the U.S. military. Truck Trailer Transit Inc. has an extended customer base including the majority of the major transit and coach fleets throughout the United States and Canada.
Dave Lawrence, President of Truck Trailer Transit stated, “We are excited to have acquired the Brake Inspector ä product line for our customers. The issues relating to brake system operation and safety are taken very seriously by all transit operators in North America. Brake Inspector® will save significant maintenance time and dollars for our customers as well as improving fleet safety. Preliminary sales presentations have resulted in very strong interest in the Brake Inspectorä system.”
The distribution agreement provides Truck Trailer Transit Inc. sales exclusivity covering North American Transit Authorities, Coach Operators and School Bus original equipment manufacturers. The five-year agreement is renewable for successive terms and provides for mutually agreed to minimum annual purchases to retain exclusivity.
“We are pleased to have signed Dave Lawrence and his company for distribution of Brake Inspector™,” commented Andrew Malion, Spectra’s Chairman. “Truck Trailer Transit is well known in the transit industry and will provide unparalleled access to this market segment for our Brake Inspector™ product line.”
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 increases productivity, reduces maintenance costs and improves fleet safety and includes Brake Safe® and SureStroke™, visual brake stroke indicators, Brake Inspector ä a new, advanced electronic air brake diagnostic system and the Termin-8Rä line of anti-corrosion and extreme pressure lubricants.
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 Corporation’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 |
