SAMSYS TECHNOLOGIES INC. AND SYMBOL TECHNOLOGIES (UK) COLLABORATE ON SALE OF SAMSYS® FASTRAK RFID SYSTEM TO MAJOR UK RETAIL CHAIN
TORONTO, ON - September 28, 1998
SAMSys Technologies Inc. (SMY:ME): SAMSys Technologies Inc. ( "SAMSys") announced today the sale of the SAMSys® FasTrak Radio Frequency Identification (RFID) System to Symbol Technologies UK ("Symbol'), a wholly owned subsidiary of Symbol Technologies Inc. for supply to a leading retail chain in the United Kingdom.
SAMSys, through a sales agreement with Symbol, will supply a quantity of its 458MHz tags and readers for use in a four month pilot program. Commencing September 1998, SAMSys FasTrak RFID tags will be installed in a number of reusable plastic tote shipping containers, to track their movements within the internal Supply Chain throughout designated manufacturing, distribution and retailing facilities. The pilot program is designed to evaluate the cost savings and other operational benefits to logistics management using RFID technology. Symbol will provide all software, integration and technical support for this program.
In a Memorandum of Understanding Agreement, SAMSys® FasTrak has been identified by Symbol as the most appropriate RFID technology for these types of applications.
"We are excited on a number of fronts," says Cliff Horwitz, CEO of SAMSys. "Firstly this contract represents the first installation of our commercial product, the development of which commenced 15 months ago. Secondly, the association and collaboration between Symbol and ourselves, is a very significant development in the Industry. It marries the enormous resources and expertise in both integration and installation of Symbol with our unique and compelling technology which will undoubtedly have a dramatic impact on Supply Chain Engineering. Thirdly, it is indicative of the growing awareness and acceptance of RFID as a technology capable of addressing functionality previously unattainable. We look forward to working closely with Symbol and it's customer to make this pilot program a great success and we feel confident it will lead to the widespread implementation of this technology within the overall distribution chain."
In a news release issued by Symbol Technologies Inc. on September 14, 1998 "Symbol Technologies to Develop Unique RFID Customer Solutions Based on Mix of Technologies - Market for RFID Products Estimated to be $1 Billion By Year 2000", Symbol Technologies announced that it is working with leading radio frequency identification (RFID) technology providers to create RFID-capable product platforms that will enable its customers to benefit from integrated technology solutions employing an optimum mix of RFID, 1D and 2D bar code technologies. Symbol is initially focusing on strategic applications within the retail supply chain, where RFID is harnessed as a core component to allow retailers to more efficiently track consignments and items from manufacturers, through distribution channels to the retail store. Symbol's RFID-based solutions are integration-led, matching available best-in-class technology to meet customer needs.
Symbol Technologies Inc. (SBL:NYSE) is a global leader in mobile computing and communications systems with innovative customer solutions based on wireless local area networking, applications-specific mobile computing and bar code capture. Symbol provides point-of-activity computing solutions for retailing, transportation and distribution logistics, parcel and postal delivery, health care, manufacturing and other industries.
SAMSys Technologies Inc. is the world leader in the design and supply of Radio Frequency Identification (RFID) hardware solutions for high-volume pallet and reusable container tracking applications in global Logistics Management, Materials Handling and Supply Chain industries. The Company's technology, the SAMSys® FasTrak Radio Frequency Identification (RFID) system, is a proprietary- automatic data collection medium of RFID tags and readers which enables the tracking of goods and assets without the need for direct contact or operator intervention, providing unique functional and cost benefits versus other available technologies.
SAMSys Technologies Inc. is a public company whose shares are listed for trading on the Montreal Exchange under the symbol: "SMY". The Company has a total of 15,556,034 shares issued and outstanding. Web site: www.samsys.com.
Stock Symbol: SMY
Exchange: Montreal Exchange (ME)
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