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True Product ID Signs Major Contract with China Federation of Industry and Commerce Auto & Motorbike Parts Articles for Use Chamber of Commerce Tuesday October 24, 9:25 am ET
BEIJING & PHILADELPHIA--(BUSINESS WIRE)--Richard A. Bendis, President and CEO of True Product ID, Inc. (TPID) (OTCBB:TPDI - News) announced that its Chinese joint venture, True Product ID Technology (Beijing) Limited, has signed a nationwide contract with the China Federation of Industry and Commerce Auto & Motorbike Parts Chamber Of Commerce (AMP) and Hainan Yayuan Anti-Counterfeiting Paper Industrial Ltd. With this contract, True Product ID is poised to enter the Chinese automobile and motorcycle, and automobile parts markets, both of which are constantly plagued by the ever-growing problem of counterfeiting. China is the fastest growing motor vehicle market and the fastest growing vehicle producer in the world. Likewise, the Chinese automobile parts industry is growing rapidly. With the U.S. having imported $5.4 billion in automobile parts from China in 2005, and with many of the world's leading auto manufacturers using more Chinese automobile parts, sources project that by 2007 approximately 70% of all car parts, including those used by the major world auto manufacturers, will come from China and that by 2009 the Chinese automobile parts industry will be over a $58 billion business. ADVERTISEMENT
This multi-year contract involving the Chinese government represents a huge step forward for TPID, as its anti-counterfeiting technology will be used by Chinese government as an intellectual property protection tool on automobiles and motorcycles manufactured in China. TPID technology will be registered with the National Industrial and Commercial Bureau, and the Chinese government has initially mandated over one hundred automobile producing and marketing enterprises to use TPID's tagging technology to protect their intellectual property. Exclusively TPID's technology will be used, with TPID Beijing providing the technology and Hainan Yayuan printing the tags. The Chinese government has designated the Chinese automobile industry as a strategic "pillar industry" and thus has taken an active involvement in developing the industry (both domestically and internationally), TPID believes that this contract should pave the way for its technology to be similarly accepted in other key industries in China (both for domestic use and export), such as healthcare, electronics, and finance.
TPID CEO Richard Bendis stated, "TPID is excited to partner with AMP, recognized as the official body and regulator of the PRC Auto Market. This agreement confirms that TPID's anti-counterfeiting technology is recognized as one of the leading, comprehensive, integrated solutions, capable of addressing complex challenges for many diverse industries and product applications." Echoing Mr. Bendis's statements, TPID Beijing President Li Ning stated, "The AMP contract presents a significant opportunity for TPID and its technology. There are over 20 Chambers of Commerce in China. With this contract, TPID should have the opportunity to pursue several other industries in the future."
An official and ceremonial press conference and contract signing ceremony will be held at the Great Hall of the People in November 2006. This media event will be attended by 200-300 people including Chinese government officials, over one hundred automobile manufacturers, and more than 150 retail motor stores which deal in the sales, spare parts, services and surveys of particular brands of cars. Because its technology will be used by the Chinese government and has been registered with the National Industrial and Commercial Bureau, TPID anticipates that many of the automobile enterprises attending the Great Hall of the People ceremony could also sign contracts with TPID.
AMP was founded in 2002 by the China Federation of Industry and Commerce, a national organization, to regulate, standardize and overhaul the Chinese Auto & Motorbike Parts & Accessories Industry. It has partnered with the State Administration for Industry and Commerce Association, State Administration of Quality Supervision and other ministries, to launch a series of campaigns related to "Cracking down on Counterfeits", which have been widely recognized by many enterprises and industries. AMP has 300 global direct members and more than 16,000 primary members, amongst which include some of the most renowned automakers in the world, reputed domestic and foreign auto & motorbike parts & accessories production enterprises, professional bodies, guilds and trade associations. It has established product supply networks with over a thousand major domestic auto parts production factories, auto supplies production factories and auto maintenance equipment production factories. In addition, it has formed strong logistics networks with more than a hundred large and specialized auto & motorbike supplies wholesale markets, at least 5,000 retail motor stores, and tens of thousands of auto & motorbike parts suppliers. AMP has also established cordial relations with global Auto & Motorbike Supplies Organizations, including United States, Central Europe, Australia, Asia and the Greater China Area.
About True Product ID
True Product ID produces integrators for anti-counterfeiting and security surveillance applications and is a provider of integrated tracking devices. The Company delivers 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: http://www.tpid.net (TPID US) and http://www.trueproductid.com (TPID Beijing)
About China Federation of Industry and Commerce Auto & Motorbike Parts Articles For Use Chamber Of Commerce
AMP was founded in 2002 by the China Federation of Industry and Commerce, a national organization, to regulate the sale and development of the Chinese Auto & Motorbike Parts & Accessories Industry. AMP has 300 global direct members and more than 16,000 primary members, amongst which include reputed domestic and foreign auto & motorbike parts & accessories production enterprises, professional bodies, guilds and trade associations. For more information go to: http://www.auto.gov.cn
About Hainan Yayuan Anti-Counterfeiting Paper Industrial Ltd
Hainan Yayuan Anti-Counterfeiting Paper Industrial Ltd is engaged in the research, development, production and sales of digitalized anti-counterfeiting security paper products. The Company provides clients with digitalized anti-counterfeiting paper and other printing packagings which are customized and difficult to replicate. For more information go to: http://www.yayuan.com/
SAFE HARBOR STATEMENT: This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that our products may not achieve customer acceptance or perform as intended, that we may be unable to obtain necessary financing to continue operations and development, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
Please refer to TPID's website (http://www.tpid.net) for complete sources of industry facts presented in this press release.
Contact: True Product ID, Inc. (TPID) Richard Bendis, 215-496-8102 rbendis*tpid.net
-------------------------------------------------------------------------------- Source: True Product ID, Inc. (TPID)
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No, I have not had any luck. I have been trying to sell this thing since Sept. But I've decided that I would just hold until after the news on Nov. 19. I am hoping that once they get this contract they will tell how much money they will finally be making so that this thing can finally take off. But that is if the investor aren't scared any more and try to make this thing rise. I am hoping that with this contract signing. They will be moving to a new stock exchange. But I guess that we will see.
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This stock contines to be a POS, a BIG POS!!! Has anyone taken a look at TPDI, remember we have our resticted shares that are now worth .03. By the time we can sell TPDI it to will be worthless. Got screwed again. This time twice over.
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