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Published in Stocks and Investing on Wednesday, February 18th 2009 at 4:53 GMT, Last Modified on 2009-02-18 04:54:52 by Market Wire
WALL TOWNSHIP, N.J.--([ BUSINESS WIRE ])--Allied Security Innovations (OTCBB:ASVN), through its wholly owned subsidiary, CGM-AST, announced Stretch Wrap Secure™ is exceeding the company's highest projections. The product was designed for worldwide clients to satisfy their growing need to quickly identify, and provide tamper evidence for stretch wrapped pallets.
According to CEO Anthony Shupin, "The timing of the product release was perfect in light of the US Transportation Safety Administration's requirements for 100% cargo inspection of all cargo shipped via commercial airlines. We thought that the characteristics designed into this unique security device for stretch wrapped pallets would be effective, and we are being proven right."
The market for Stretch Wrap Secure™ is estimated to be worth many millions of dollars and until now, there has been no consistent competitor on the market to utilize tamper-evident tapes or labels due to the chemical characteristics of the stretch wrap. "Stretch Wrap Secure™" has not failed to indicate tamper evidence on every stretch wrap tested.
"Stretch Wrap Secure requires no tools for application, can be customized to provide quick identification of products and whether they have been tampered with or pilfered and is the most cost-effective method for securing palletized cargo that we know of," states Bob Frucci, Director for North America at CGM-AST. "The manufacturers and shippers benefit from a liability and productivity standpoint. And the product can be instrumental in reduced inspections, less transit delays and enhanced security." Gina Levinson, Director for International Channel Development comments, "We are experiencing a high degree of interest from our International clients shipping to the US. It is easy to use…and it works."
CGM-AST remains the global leader in Tamper-evident security products. Company officials estimate this new product represents a multi-million dollar opportunity.
For more information on how Stretch Wrap Secure may be incorporated into tamper evident security systems, contact Bob Frucci, CGM-AST Director for North America at 800-899-2246 or International please contact Gina Levinson +732-751-1044.
About Allied Security Innovations, Inc.
The company, based in Farmingdale, NJ, develops and markets integrated enterprise-wide image applications specifically designed for criminal justice organizations. Customers include states, cities, counties, corrections, justice, and public safety agencies. Additional information and a New President's Letter is available online, at [ www.ddsi-cpc.com ].
Its subsidiary, CGM Applied Security Technologies, Inc., with locations in Farmingdale, NJ and a factory in Staten Island, NY, is a leading manufacturer and distributor of Homeland Security products, including indicative and barrier security seals, security tapes and related packaging security systems, protective security products for palletized cargo, physical security systems for tractors, trailers and containers, as well as a number of highly specialized authentication products. Additional information is available online, at [ www.cgm-ast.com ].
Safe Harbor Statement:
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.For further risk factors associated with our Company, review our SEC filings.
