ABN on NYSE getting heavy into the smart card huge growth in this industry , things are looking good for BETT
Wednesday November 25, 9:33 am Eastern Time
Company Press Release
SOURCE: American Banknote Corporation
American Banknote Corporation
Announces Gemplus Smart Card Joint Venture
NEW YORK, Nov. 25 /PRNewswire/ -- American Banknote Corporation (NYSE: ABN - news)
today reported that its subsidiary, Leigh-Mardon, Australia's largest plastic and smart card
manufacturer, has established a joint venture with French-based Gemplus, the world leader in smart
card development and manufacture.
The Gemplus - Leigh-Mardon joint venture is being established to manufacture smart cards in
Melbourne and market smart card based solutions in Australia and New Zealand. This comes in
response to growing demand for these products and solutions in the region. Regarded increasingly
as an important component in the information technology industry, the smart card is emerging to
meet demands created by the explosive growth of digital computing, media and communications
throughout the world.
The joint venture will have access to the latest products and technologies designed and developed
by Gemplus, including those for banking, transportation, healthcare, and communications. This will
enable the joint venture to take an active and leading role in the applications where the smart card
is experiencing dynamic growth. Key areas for smart card growth include GSM/Mobile
Telecommunications, Multimedia/Internet, and Payment and Multi-Application smart cards.
The Victorian government has embraced Gemplus smart card technology for its goal of placing all
government and community services online by the year 2001.
Morris Weissman, Chairman and CEO, stated, ''We look forward to working with Gemplus on
smart card projects. We believe that the market for these cards is already worth A$50 million and
that it will double within three to four years.''
American Banknote Corporation is a leading global full-service provider of secure transaction
solutions in carefully selected markets along three major product groups: Transaction Cards &
Systems, Printing Services & Document Management, and Security Printing Solutions. A combined
strategy of operating along product lines and constant expansion of transaction activities worldwide
reflects the rapidly changing field of electronic commerce.
SOURCE: American Banknote Corporation
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