OTCBB Penny Stock News
Jul 29, 2008 9:02:00 AM
Copyright Business Wire 2008
CALGARY, Alberta--(BUSINESS WIRE)--
Advanced ID Corporation (OTCBB: AIDO), a leading developer of radio frequency identification ("RFID") technology for livestock tracking, pet recovery and supply chain applications focusing on the tire management industry, today announced that its has partnered with its largest distributor in Brazil to establish Advanced ID, Brazil, Ltd. ("AIDO BR"). As part of Advanced ID's expansion into Brazil, it has acquired a 20% interest in AIDO BR.
Brazil has become the center of a booming South American economy and is one of the fastest growing markets in the world for RFID as the technology continues to revolutionize the supply chain industry. Demand for Advanced ID's products and solutions are increasing dramatically in tire management, pharmaceutical, document control and other asset management and asset tracking applications.
"It is clear that both Advanced ID and its important customers will benefit from a local presence in Brazil with in-country management and a focused mission to bring our proprietary RFID solutions to market," said Dan Finch, President of Advanced ID. "We have already begun supporting AIDO BR with the provision of critical system integration capabilities, customer service, local product stocking, software solutions and our leading suite of RFID tire products.
"With Latin America being one of the largest global tire markets and because every major tire manufacturer is involved in Brazil, it is important to our global growth strategy that we maintain direct sales and service links in the country. We are establishing relationships around the world to prepare for more effective global marketing initiatives. The establishment of AIDO BR enables us to improve our global presence with sales and service centers located in Brazil as well as China, England, Malaysia, Portugal, Thailand, and the United States. In the near future, we intend to commence similar operations in all other tire manufacturing centers around the world."
According to Fabio Pinto, the managing executive of AIDO BR, "We are excited to strengthen our capabilities for the penetration of the RFID market in Brazil and other fast growing regional markets through the establishment of AIDO BR. In cooperation with Advanced ID, we are providing products and local support for the tire management, pharmaceutical, supply chain and vehicle tracking industries. Advanced ID has maintained a presence in Brazil with its livestock products representing the first UHF RFID tags used in the country. Given our experience in RFID and with Advanced ID's impressive technology, we believe AIDO BR is the best conduit to further influence the market as we are seeing an increasing demand for RFID solutions."