10/18/2007

News / TSSI LAUNCHES JOINT VENTURE IN CHINA; LOOKS TO INDIAN AND RUSSIAN MARKETS

Linked from: http://www.responsesource.com/releases/rel_display.php?relid=34529&hilite=

Document security specialists expects to double sales within three years

17 October, 2007 -TSSI Systems, the document and personnel identity specialist, today announced that it has opened a joint venture business in China with its local partner Shenzhen Yorktal Precision Ltd.

TSSI believes that the new joint venture has the potential to double its business over the next three years. It is currently conducting feasibility studies with a view to launching further joint ventures in India and Russia.

The new company, called Shenzhen TSSI Systems, is based in Shenzhen, a special economic zone on the south coast of China, and will produce a range of high security documents for local customers in the Chinese market.

TSSI manufactures a document security thread called QMark that contains permanent security features that are used to identify the document and protect it against fraud. The QMark thread can be coded into either a batch number or an incrementing number for traceability.

The QMark thread is manufactured in the UK and shipped out to Shenzhen TSSI Systems for local assembly into high value documents such as certificates, identity cards, tickets and bank pass books, for customers.

TSSI currently employs 35 people in the UK and has revenues of £4 million. It believes that the new joint venture with Yorktal could transform the business over the next three years based on the size and scale of customers in the Chinese market.

Under an initial distribution agreement between TSSI and Yorktal, unit volumes have risen from 10 million in 2004 to an expected 50 million units in 2007. Growth over the next 18 months is expected to grow five-fold next year with customers including the China Construction Bank, the Bank of Agriculture and the Guandong Development Bank.

“The new business has the potential to transform our business. Whereas a bank in Europe might have a few million customers, in China 10 to 50 million is not uncommon. Thus with a handful of customers we could see unit volumes rise dramatically,” said Danny Chapchal, Chairman, TSSI Systems.

“TSSI is now looking to use it success in China as a model for entry into India and Russia. Both these markets have huge numbers of documentation which need to be protected by an authentication mechanism,” said Mr Chapchal.

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About TSSI
TSSI, based in Swindon, UK, is a leading supplier of technology solutions for the identify verification of personnel and documents. Its document verification, fingerprint biometrics and identification systems are used in over 20 countries worldwide, wherever proving the identity of individuals or a document is a necessity. TSSI's target markets include healthcare entities, retailers, airports and financial institutions. Its blue chip customer list includes Group 4 Securicor, NHS and the John Lewis Partnership. For further information visit: www.tssi.co.uk


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