SSTY -- SSTY Announces Plans for New Venture with Affiliate of China's Ministry of Industry and Commerce; Venture to Have Ability to Police Consumer Counterfeit Products Including Authority to Search and Seize
1/25/2006 11:03:57 AM
Jan 25, 2006 /PRNewswire-FirstCall via COMTEX/ -- Sure Trace Security Corporation (SSTY) announced that its joint venture partner, True Product ID Technology (Beijing) Limited ("TPiD"), a joint venture of its 85% subsidiary, True Product ID Technology Limited, and Beijing Suneray Zexin Technology Limited has signed a cooperation agreement with China Consumer Journal, which is a subsidiary company of the Ministry of Industry and Commerce.
SSTY provides proprietary solutions for loss prevention and anti- counterfeiting purposes. On November 24, 2005, it announced that the joint venture had signed a service agreement with The National Brand Cartel Anti- Counterfeit Cooperation Network -- Brand315.com, to deliver the True Product ID anti-counterfeiting technology.
With the addition of the cooperation agreement, TPiD can now not only mark products but can ensure the proper use of the technology in its utilization and assist in conducting its enforcement in the field ... across the entire spectrum of products and goods that are tagged. This enforcement workforce will monitor all the items tagged through every contract that TPiD enters into across the country.
Within China, the Ministry of Industry and Commerce is one of the Government or civil agencies charged with the responsibility to provide field authentication of consumer products. Through the co-operation with the China Consumer Journal which also produces anti-counterfeiting labels similar to Brand315 (see November 14, 2004 PR), TPiD will work with the Ministry of Industry and Commerce to provide them with SSTY's scanning and KMACK technologies.
Chairman Mr. James MacKay, who has personally spearheaded SSTY's efforts in China for the past year, stated, "I am always pleased to see forward progress and believe that we are seeing only the beginning of a series of contracts in China. Based on the magnitude of exports from China to the rest of the world we are getting tremendous response from importers in both North America and Europe."
SSTY has this week kicked off its initial drive to establish a sales force in North America with end user and cooperative reseller and/or marketing partnership meetings taking place in Philadelphia and Chicago.
As a matter of policy, SSTY generally does not disclose specific valuation and volume information concerning individual contracts, unless such disclosure is required by applicable law. SSTY believes that keeping such information confidential is beneficial to client development.
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.
SOURCE Sure Trace Security Corporation
Michael Cimino, President, Sure Trace Security Corporation, +1-215-972-6999,
michaelc@suretrace.com
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