Time Finance Regulatory News (TIME)

18 Apr 2005 06:00

FOR IMMEDIATE RELEASE 18 April 2005 Timestrip plc ("Timestrip" or the "Company") Launch of integrated smart label technology with CROWN Zeller Germany, a manufacturer of packaging products Timestrip is pleased to announce that its latest product innovation will belaunched at the biggest trade fair in the world for packaging, Interpack, inDƒ¼sseldorf later this month.The Lifetime Cap¢â€ž¢ contains an embedded Timestrip‚® smart label which isautomatically activated upon first opening the cap. Once activated, theTimestrip‚® monitors how long a perishable product has been open, helpingconsumers to comply with recommended "Period after Opening" dates.The Lifetime Cap¢â€ž¢ is the result of a joint collaboration between Timestrip Plcand Crown Zeller, one of the world's leading manufacturers of closures to thefood, beverage and cosmetic industry. Crown operates in 44 countries with netsales in 2002 of $6.8 billion.The project with Crown Zeller arose out of consumer research that showed highlyfavourable reactions to a fully integrated timing device on food, beverage andcosmetic products.A recent report by PIRA International highlights freshness indicators as thefastest growing technology for intelligent packaging to 2008.Joint Chief Executive, Paul Freedman:"The Lifetime Cap¢â€ž¢, which is fully integrated into packaging and automaticallyactivates upon opening represents a major innovation in the field ofintelligent packaging. We are focused on profiling this technology to asignificant customer base and we expect to make further announcements in duecourse.Director Sales & Marketing, Manfred Kluth of Crown Zeller Germany:"Interpack will enable Timestrip to showcase its unique technology to a globalpackaging market. Their technology, supported by our design, production andmarketing capabilities, has created a truly exciting product offering which isalready generating a great deal of interest from multinationals."For further information:Paul Freedman/Reuben Isbitsky, Joint CEOs, Timestrip plc: 01462 440700Shane Dolan, Biddicks: 020 7448 1000Roland Cornish, Beaumont Cornish Limited: 020 7628 3396.ENDTIMESTRIP PLC