New Tracer Production Line Operational as Contracts Ramp Up
Sydney, Oct 6, 2015 AEST (ABN Newswire) - Anti-counterfeiting technology company YPB Group Limited (
ASX:YPB) has commenced use of a new production line for its invisible tracer anti-counterfeit material. The first successful production run comes after recent investment into its development in China.
Highlights:
- YPB's new production line for invisible tracer operational
- 400% increase in capacity to produce YPB's invisible tracer
- First batch produced on new production line
- YPB tracer included in 20 million fapiaos (tax invoices/receipts) to date - contract for 48 million per year 2015-2017
- First run of 300,000 bank deposit certificates complete in national bank trial - targeting only one county thus far
Rapid growth in demand for YPB's invisible tracer made it necessary to extend the production capacity.
After three months building the new production line, YPB will have the ability to increase production by up to 400%, providing adequate support for YPB's growing activity across China, USA, Australia and Thailand.
YPB Group CEO John Houston said: "I am delighted that we are now in a position to match our customers increasing demand for invisible tracer as new and existing customers continue to adopt the technology and expand their own production."
The new production line comes as YPB confirms the fapiao contract with Guangzhou Renmin Printing Co Ltd, for the Guangdong National Tax Bureau, is greater than originally announced. Initially expected to be approximately 14 million fapiaos during the first year of the deal, 20 million pieces have already been produced with the contract expected to now be for 48 million pieces annually.
Further to this, YPB has completed the first phase of its supply of tracer and scanners to one of China's national banks, the customer being the largest bank in terms of footprint with 77,000 branches across China. To date more than 300,000 bank deposit certificates protected with YPB's tracer have been printed and accepted by the bank.
To view the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-YPB-883226.pdf
About YPB Group Ltd
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