Government Documents Joint Venture in Latin America
Sydney, Feb 10, 2016 AEST (ABN Newswire) - YPB Group Limited (
ASX:YPB) has entered into an exclusive joint venture and consulting agreement with Affyrmx Group LLC focused on the protection of government documents, including but not limited to visas, vital record documents, ID cards and financial instruments including currency, in Latin America.
The agreement has a six year duration and will initially target federal and state government agencies in Mexico, aiming to integrate YPB's Protect and Detect patented technologies within a range of high security printing services to protect high security, high value documents from counterfeiting.
Based in Atlanta, Georgia, Affyrmx was founded in 2011 and is a trusted security provider and adviser, primarily to governments and central banks in Latin America. The company offers a full range of high security products and solutions, all of which are designed to help governments combat the growing security threat posed by counterfeiters.
Affyrmx will be responsible for customer/project sourcing and customer liaison, with YPB responsible for materials sourcing, production and logistics. The two parties will manage projects jointly to ensure the integrity of the supply chain and delivery of a seamless solution to clients.
President of Affyrmx, Anthony J. Butte said: "YPB has become a well respected industry leader in anti-counterfeiting and we look forward to this partnership and the opportunity to bring our combined offering to Latin America. YPB's unique portfolio of technologies will allow us to offer customers an end-to-end security solution while allowing YPB the ability to increase its geographic footprint and gain access to a much broader customer base, especially in the government sector."
YPB CEO John Houston said: "YPB has proven its technology in the government document sector in China with the Ministry of Public Security as well as within high value documents for regional banks and tax authorities. In addition two major western economies incorporate YPB technology into its epassports.
Our partnership with Affyrmx builds on this experience for the government sector in Latin America, starting with Mexico's 130 million population, creating an exceptional business opportunity for YPB."
To view the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-YPB-905552.pdf
About YPB Group Ltd
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