Last checked at 2 Jan 2019 07:00
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Spectra Systems Corporation
("Spectra")
First Orders for Tobacco Products in China with TruBrandTM
Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, is pleased to announce that it has received the first production order for the Company's patented materials-based smartphone authentication product, TruBrandTM. This first of two expected orders is from Zhejiang Tobacco Company, one of the leading tobacco companies in China. This launch of TruBrandTM, to be incorporated into approximately 6,000,000 -8,000,000 cigarette packs to be sold in China, is aimed at gauging acceptance of the TruBrandTM technology and further refining the product for use in potentially billions of units for larger volume brands in the future.
These first orders are specifically for one of the highest value cigarettes brands in China manufactured by Zhejiang Tobacco, the Liquan Yunduan Series, which retails for 120 RMB (US$16.80) per pack. Lower priced brands sell for approximately US$3-US$5 per pack and are typically in the billions of packs annually. Approximately 60% of the price is believed to go to government tariffs.
Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are delighted that Zhejiang Tobacco has decided to increase their commitment to the technology from large scale manufacturing testing to introducing the technology to the market with a very sought after high end tobacco product for sale primarily in China. This is particularly good news in light of the existing strained trade relations between the USA and the Peoples Republic of China. We are optimistic that this first launch with one of the highest value cigarette brands in China will lead to the adoption of TruBrandTM across larger volume product lines, that could downstream result in over a billion units annually from this supplier alone."
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer Tel: +1 (0) 401 274 4700
WH Ireland Limited
Chris Fielding (Managing Director, Corporate Finance) Tel: +44 (0) 20 7220 1650