Post by
ChupacabraBueno on Mar 22, 2018 1:15pm
Up 13% on down day - on India distribution agreements
Nanotech, Holostik and Kumbhat Sign Distribution Agreements for India
Initial focus will be on the tax stamp and pharmaceutical markets
VANCOUVER, British Columbia, March 22, 2018 (GLOBE NEWSWIRE) -- Nanotech Security Corp. (TSXV:NTS) (OTCQX:NTSFF) ("Nanotech" or the "Company"), a leading innovator in the research, creation and production of advanced security products for the anti-counterfeiting market, Holostik India Limited ("Holostik") and Kumbhat Holographics Co. Limited ("Kumbhat") announce comprehensive agreements for the distribution of Nanotech's KolourOptik(R) nano-optic image and colour shifting optical thin film ("OTF") products in India.
The supply and license agreements follow several months of production trials and appoints Holostik and Kumbhat as Nanotech's authorized distributors and converters for the non-banknote market in India for an initial period of three years. Under the agreements, both the companies will pay Nanotech annual licensing fees and adhere to annual minimum purchase requirements. Specific commercial terms were not disclosed.
The nanotechnology-developed products will significantly strengthen Holostik's and Kumbhat's position as two of India's leading providers of security products that prevent counterfeiting and provide brand and product integrity. Both KolourOptik and colour shifting OTF will play a pivotal role in the growth of authentication opportunities in the future.
"Holostik has been a market leader in providing anti-counterfeiting products and solutions for the last 27 years. With a production capacity of over 7 million sq. meters per annum, we are one of the largest manufacturers of authentication products & solutions in India," said U.K. Gupta, Holostik Chairman and Managing Director. "We are delighted and look forward to our partnership with Nanotech Security."
"While Kumbhat's initial focus will be on the tax stamp and pharma packaging industries, our customers span several industries including tax stamps, pharma packaging and government agencies across India. We are very excited to be chosen as a partner that will bring KolourOptik and colour shifting OTF to the India market," said Kumbhat Director Sanjay Kumbhat.
"Our agreement with Holostik and Kumbhat solidifies a strong relationship with established partners," said Nanotech CEO Doug Blakeway. "We continue to see strong interest and demand for our KolourOptik and colour shifting OTF products across multiple industries and partnering with established companies in India represents a considerable opportunity for all of us."
Forward-looking statements
This news release contains forward-looking statements which involve risks and uncertainties. These forward-looking statements relate to future growth plans and the ability to penetrate new markets. When used in this news release, the words such as "plan", "expect", "pursue", "will", and similar expressions or statements general identify forward-looking statements. These statements reflect our current expectations but are subject to the numerous business risks outlined in our public filings at www.sedar.com.
About Holostik India Limited
Holostik, since its inception in 1991, has been a leader in providing anti-counterfeiting solutions. The company offers complete tailor-made solutions for brand protection, authentication, document security, packaging and tracking to the world's premier brands. Holostik caters to the anti-counterfeiting needs of all sectors including pharmaceutical, automobile, liquor, electronics, banking, agriculture, and education. Holostik has earned many awards and accolades by IHMA, ASPA for its unique anti-counterfeiting technologies. It is the first anti-counterfeiting company in India with CMMI-Level 3 certification.
About Kumbhat Holographics Co. Limited
Established in 1999, an ISO9001: 2000 certified company, Kumbhat is one of the most reliable and economical high-security hologram manufacturers in India. Headquartered in Chennai, its presence spans the entire nation through marketing divisions located in various commercial hubs. With a production capacity of 500 million holograms per month and an extensive manufacturing and R&D unit spread over 72,000 sq. ft., expansion is not a constraint.