SSTY's JV Signs Contract With Chinese Government-Sponsored Anti-Counterfeiting Network
PR Newswire - November 21, 2005 09:08
BEIJING and PHILADELPHIA, Nov 21, 2005 /PRNewswire-FirstCall via COMTEX/ -- Sure Trace Security Corporation (OTC: SSTY) announced that True Product ID Technology (Beijing) Limited has signed a service agreement with The National Brand Cartel Anti-Counterfeit Cooperation Network - Brand315.com, to deliver the True Product ID anti-counterfeiting technology. True Product ID Technology (Beijing) Limited is a joint venture owned 50% by a Chinese corporation, Beijing Suneray Zexin Technology Limited and 50% by True Product ID Technology Limited, 85% of which is owned by Sure Trace.
Brand315.com is established under the authorization of the Ministry of Quality Supervision, Inspection and Quarantine of the People's Republic of China. It is a network introducing anti-counterfeit technologies, services and law enforcement for branded products. Brand315 provides security labels to top national brands in China and has 600 active members. Its clients cover all areas of consumer goods and, collectively, distribute billions of units of goods per day.
Brand315 has informed Sure Trace that it chose the Company's solutions, collectively known as True Product ID, because it recognized that the components of this one solution fit the varied and specific needs of all Brand315's members. According to the feedback from Brand315, what set the Company apart from other technologies is that we have demonstrated the present ability to deliver the technologies developed for China and deploy them across many different applications - from controlling and tracking counterfeit products, containers, authenticating precious artifacts, identity authentication, transportation systems, munitions and document management.
This initial pilot program contract calls for the joint venture to mark 2 billion labels of the top brands in China. If this initial pilot program is completed as planned, Company officials estimate that the total receipts under this contract will approximate $5,000,000 over the next 3 months. The amount may vary due to fluctuations in the currency exchange rate.
This number of items to be marked in this initial agreement, 2 billion units, is just the average daily amount of units commonly processed by the Brand315 network.
The Company will be providing scanners (both from Innov-X and AMCO), taggants, the services of its proprietary, remote, real-time authentication software system, KMACK, and networking to the central database.
James Mackay, the Chairman of the Company said, "For the most part of the last year, our team here in China has worked extremely hard to provide China with a total anti-counterfeiting solution. China has chosen to take this important step in the war on counterfeiting to put a stop to counterfeit goods not only in China but the world." He went on to say: "True Product ID is very proud to support the Chinese government in establishing a world standard and building the spirit of 'one world one dream.'"
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.
GB-ND
cris |
