Lear Corp. Announces Joint Development Agreement with Transense for Batteryless Tire Pressure Monitoring Systems
SOUTHFIELD, Mich., Sept. 21 /PRNewswire-FirstCall/
-- Lear Corporation (NYSE: LEA) today announced that it has signed a
license agreement with Transense Technologies plc to integrate
Transense's batteryless Tire Pressure Monitoring System (TPMS)
technology with Lear's Remote Keyless Entry receiver (RKE) technology.
Financial terms were not disclosed and Lear's agreement with Transense
does not affect an existing joint development agreement Lear has with
Beru for TPMS.
Under terms of the agreement, Lear and Transense will work closely
together to integrate Transense's batteryless Surface Acoustic Wave
(SAW) TPMS technology with Lear's Remote Keyless Entry receiver
technology. The two companies have recently worked together on the
development of two functional North American vehicle prototypes equipped
with the batteryless Transense TPM systems.
"Lear is a world leader in RKE technology as well as a significant
provider of TPM systems to the automotive market," said Mike Fawaz, vice
president, Electronics Design & Development for Lear Corporation.
"Transense's SAW-based sensor technology is a game changer and will
advance the next generation system to meet government regulations in a
more environmentally friendly manner, satisfying customer and consumer
The Transportation Recall Enhancement, Accountability and
Documentation (TREAD) ACT mandates the use of a suitable TPM technology
in all passenger vehicles sold in the U.S. in order to alert drivers of
severe under inflation condition of their tires. This regulation
affects all light motor vehicles registered after September 1, 2007,
with phase-in commencing in October 2005 at 20% and ramping up to 70%
after September of this year. Additionally, European and Asian
regulators are also expected to rule on the subject even if no signs of
legislative activity are forecasted in the near future.
A typical TPM system employs four or five transmitter-sensors, an RF
receiver and other satellite hardware which can identify the position of
the tire that is improperly inflated. The current systems utilize a
lithium battery in the tire to power the sensor which has a limited
lifespan of ten years and requires special handling related to disposal
of the batteries.
"The new TPM system will provide several benefits including battery
elimination, lower weight and superior functional performance at a
competitive price," said Jim Perry, chief executive officer of
Transense. "By combining our leading technologies we can create an
industry standard for TPMS that improves product functionality and
Lear Corporation is one of the world's largest suppliers of
automotive interior systems and components. Lear provides complete seat
systems, electronic products and electrical distribution systems and
other interior products. With annual net sales of $17.1 billion in
2005, Lear ranks #127 among the Fortune 500. The Company's world-class
products are designed, engineered and manufactured by a diverse team of
115,000 employees at 282 locations in 34 countries. Lear's headquarters
are in Southfield, Michigan, and Lear is traded on the New York Stock
Exchange under the symbol [LEA]. Further information about Lear is
available on the Internet at http://www.lear.com/ .
Transense Technologies is a technology transfer company that develops
Surface Acoustic Wave (SAW), wireless, batteryless, sensor systems for
the automotive industry. Current applications include Tire Pressure
Monitoring Systems (TPMS) and torque systems for Electrical Power
Assisted Steering (EPAS) and driveline management. Transense is listed
on the Alternative Investment Market of the London Stock Exchange (TRT).
Further information on Transense can be found on the Internet at http://www.transense.co.uk/ .
SOURCE: Lear Corporation
CONTACT: Investor Relations: Mel Stephens, +1-248-447-1624, or Media:
Andrea Puchalsky, +1-248-447-1651, both of Lear Corporation; Graham Eves of
Transense, +44 (0) 1869-238380
Web site: http://www.lear.com/
Company News On-Call: http://www.prnewswire.com/comp/518304.html
Posted on 9/21/2006