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Sure Trace Signs Agreement to Form Joint Venture With U.S. Company That Has Been Providing Security Solutions for Over Twenty Years
JV Partner Will License Rights to Their Proprietary and Licensed Technology, for Authentication, Anti-counterfeiting, Tracking and Tracing Systems
PHILADELPHIA, Oct 18, 2005 /PRNewswire-FirstCall via COMTEX/ -- Sure Trace Security Corporation (OTC: SSTY) announced that its Chinese operating subsidiary, True Product ID Technology Limited, formerly Sure Trace Asia Limited, has, on October 4, 2005, signed an agreement with Gary Metzger, President of Amco Plastic Materials Inc. of Farmingdale, New York, to form a joint venture (JV) to utilize their anti-counterfeiting/authenticating systems in the Far East.
Amco currently provides security solutions for worldwide use and deals with well-known public and private organizations. Amco is prohibited from mentioning publicly the exact identities of these customers. Amco's President, Gary Metzger, will also sit on the Advisory Board for both True Product ID Technology Limited and True Product ID Technology (Beijing), formerly Sure Trace (Beijing).
James Mackay, STA's Chairman, said, "Amco's technology further enhances our existing suite of technologies and will allow us to reach the market in a relatively short period. We are also pleased that Mr. Metzger has agreed to sit on our Advisory Board. He will also bring both contacts and years of operational experience to the company."
Founded in 1955, Amco distributes and produces custom compounds, dry color, additives and master-batches and anti-Counterfeiting taggants and technologies. Amco offers unique anti-counterfeiting taggants and taggant combination technology, including additives and master-batches for the system and the scanner system and software, to make finished products difficult, if not impossible to counterfeit.
About Sure Trace Security Corporation
Sure Trace produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company intends to deliver turnkey solutions for governments, armed forces, and industry, through its own proprietary technology and through aggregating the technology, products, and services of third parties via licensing agreements and or joint ventures. For more information go to: suretrace.com.
The stock of Sure Trace has recently been suspended by the Securities and Exchange Commission, but the suspension has ended by its own terms. Management of Sure Trace is currently working with the broker-dealer community and regulators to permit quotations to be entered on the Pink Sheets as soon as possible. More information will be provided to the public when circumstances warrant.
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