BURLINGTON, ON, Aug. 20 /CNW/ - IPICO Inc. (TSX-V:RFD) ("IPICO" or the
"Company") today announced that it has entered into an exclusive distribution
agreement with China Academy of Transportation Sciences ("CNATS"). Under this
agreement CNATS will supply IPICO's Electronic Vehicle Toll and Management
solution into the Chinese market in order to address the growing need for
cost-effective traffic management systems.
To maintain this exclusive arrangement CNATS must commit to minimum
purchase volumes of RMB 24 million (approximately CDN $3 million) from IPICO
of its Radio Frequency Identification (RFID) Electronic Vehicle Identification
(EVI) solution over the next three years.
Transportation authorities in South Africa, Brazil, Mexico, Kingdom of
Saudi Arabia and other countries have announced nationwide initiatives to
deploy RFID based systems to monitor the movement of all vehicles on public
roads. RFID EVI is viewed by those authorities as an essential instrument to
assist the development of efficient transportation systems in those emerging
economies. As a global leader amongst the world's emerging economies, China is
also expected to be a front-runner in the utilization of RFID to manage its
fast-expanding transportation networks.
"Through this exclusive agreement with China Academy of Transportation
Sciences, IPICO has taken another important step in establishing the
acceptance of its RFID technology in key targeted global markets", remarked
Gordon Westwater, President of IPICO.
ABOUT IPICO Inc.
IPICO Inc. is an RFID solution supplier with operations in the USA, South
Africa, Europe, Asia and Australia. IPICO produces smart labels and tags based
on the IP-X(TM) communication protocol. IPICO's low interference readers are
designed to meet regulatory requirements in many major markets, and allow for
multi-reader rollout in close proximity. IPICO's low cost RFID products excel
at long read range, fast multi-read anti-collision and high thru-beam
read-speeds of dynamic tag populations. These products are used to optimize
the management of items, people, animals and processes within the logistic
supply chain and other value chains. For further information, go to
This news release contains certain forward-looking statements pertaining
to future anticipated projected plans, performance and developments, as well
as other statements relating to future operations and results, including,
without limitation, statements as to sales forecasts and required minimum
future revenues. Any statements in this news release that are not statements
of historical fact may be considered to be forward-looking statements. Written
words such as "may", "will", "expect", "believe", "anticipate", "estimate",
"intends", "goal", "objective", "seek", "attempt", "suggest" or variations of
these or similar words, identify forward-looking statements. These statements
by their nature are estimates of future results only. Actual results could
differ materially from those contained in the forward-looking statements and
are based on current expectations that involve substantial risks and
uncertainties, including but not limited to the failure to meet market growth,
order volume, delivery commitment or minimum revenue expectations, political
intervention, and those other risks and uncertainties detailed from time to
time in IPICO's periodic reports filed on SEDAR (www.sedar.com).
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR THE ACCURACY OF THIS RELEASE.
For further information:
For further information: Gordon Westwater, President, IPICO Inc., Tel:
(905) 631-6310, email: email@example.com; Jiann Hsieh, Vice President
IPICO North Asia, Tel. +86-13585856108, email: firstname.lastname@example.org;
Hufangjun, Superintendent, CNATS, Tel. +86-010-58278617,