YPB Group
YPB Group (ASX:YPB) is a global provider of anti-counterfeit and product authentication solutions.
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YPB Group secures A$600,000 contract with China’s Zhongneng CIC International for T2 Tracer-Scanner
YPB Group Ltd (ASX:YPB) has secured a three-year take-or-pay contract with China's Zhongneng CIC International Import and Export Trade Co Ltd valued at around A$600,000 for the use of the T2 Tracer-Scanner product.
Zhongneng CIC will deploy the T2 Tracer-Scanner into anti-tamper and anti-counterfeit packaging for its customers in the tobacco, liquor and pharmaceutical industries.
This is an important contract win for the product authentication and consumer engagement solutions provider, and the highest minimum annual value contract secured in China to date.
Other sectors being identified
YPB group chief executive officer John Houston said: "This contract with Zhongneng CIC is a great example of the revenue and customer base we are now building in China - long-term contracts that deliver recurring and predictable revenue streams with large and respected entities that have scope for further growth.
The around A$600,000 of revenue we will book in the first few years is based on YPB's T2 Tracer-Scanner technology being deployed in three sectors only, and Zhongneng CIC has already identified more sectors and other areas of their business where the technology can be used.
"This is indeed a very high-value customer win.
"We believe that this contract has the potential to grow in value and could lead to other Chinese customers contracting with YPB."
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2015-08-20
