InkSure receives follow-on order from Turkish bus system
InkSure Technologies' ticker readers will be installed in new buses being added to the Istanbul Public Transportation Authority's fleet.
Globes correspondent 11 Jan 06 15:46
InkSure Technologies Inc., a provider of covert machine-readable security solutions for the prevention of counterfeiting, fraud and diversion, today announced that its subsidiary, InkSure Inc., received an order for 250 additional readers to be supplied to the bus authority in Istanbul, Turkey. The readers will be installed in new buses that are being added to the customer's fleet. InkSure Technologies specializes in comprehensive, covert security solutions designed to protect high profile brands and documents of value from counterfeiting, fraud and diversion.
The Istanbul Public Transportation Authority (IETT) has been an InkSure customer for approximately four years, and the company's electro-optic readers are validating the authenticity of tickets in almost 3,000 buses throughout that city. IETT operates in an area of 900 sq. miles and carries more than 10 million passengers per month.
InkSure Technologies CEO Elie Housman said, "We have continued to supply SmartInk on a recurring basis to IETT and the installation of additional readers in new buses reaffirms the value that our covert security solution is providing to InkSure's oldest customer. To our knowledge, this is the largest brand protection project involving a transportation system in the world.
"The new buses will be equipped with an improved version of the readers deployed earlier, which have performed very well in the harsh conditions under which municipal buses must operate in Turkey's largest city. By expanding the number of buses utilizing our covert security solution, this order will result in greater recurring revenues from security ink sales in the future."
InkSure Technologies has its corporate headquarters in Ft. Lauderdale, Florida and its R&D center in Rehovot, Israel. R&D activities include the development of chipless RFID technology for affordable item-level secure logistics and track-and-trace applications.
Published by Globes [online], Israel business news - www.globes.co.il - on Wednesday, January 11, 2006
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