The terms of the Aug. 21 settlement and license agreement between SmarTire and Schrader are confidential, reports SmarTire.
“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,” commented Dave Warkentin, president of SmarTire. “This should positively impact our business as we continue to vigorously defend our intellectual property rights.” (Tyres & Accessories/Staffordshire, U.K.)