TORONTO, Nov. 18 /CNW/ - SAMSys Technologies Inc. (SMY:TSX-VEN)
("SAMSys"), an international provider of radio frequency identification (RFID)
hardware solutions, today announced that it has reached an agreement with
Supercom of California Limited to settle a case, which has been outstanding
for almost four years, for $130,000 CAD.
On February 1, 1999, Supercom of California Limited launched its lawsuit
against SAMSys claiming $3 million in damages due to a breach of contract.
Supercom alleged that SAMSys attempted to forego the trade obligations
owed by Aegis Manufacturing Corporation, a former subsidiary of SAMSys, to
Supercom, one of its trade creditors.
"Supercom has accepted our payment and we are gratified to finally be
able to put this lawsuit behind us," says Cliff Horwitz, Chairman and CEO of
SAMSys. "We are a forward looking company and will continue our mandate to
research and develop new products, increase sales, win marquee customers and
be a leader in the RFID industry."
SAMSys offers a selection of reader solutions including standard
frequency-specific modules, custom-made application specific reader systems,
and OEM modules to provide tailored solutions for a wide variety of supply
chain management, logistics management, and tracking and fulfillment
applications. In addition to providing reader solutions, SAMSys offers
consulting services that focus on the front-end of the RFID implementation |
