Document Security Systems Announces Multi-Year Contract Valued at $6 Million Per Annum with One of World’s Largest Retailer...
13 July 2020 - 8:45PM
Document Security Systems, Inc. (NYSE American: DSS), a
multinational company operating businesses focusing on brand
protection technology, blockchain security, direct marketing,
healthcare, real estate, and securitized digital assets, today
announced its Premier Packaging Corp. (Premier) subsidiary signed a
three-year contract with one of the world’s largest retailers to
supply photo mailing envelopes and folding cartons for prints,
posters, canvas decors, photo books, passport photos, and business
printing. The contract is valued at approximately $6 million per
year and may be renewed for a fourth year.
“This is a major win for Premier and solidifies our relationship
with a long-term customer,” commented Jason Grady, Chief Operating
Officer of DSS. “The fact that we beat out our competitors for this
highly prized contract valued in excess of $24 million is evidence
of the strength and capabilities of our printing and packaging
division. As we transform DSS into a multinational aggressive
growth company, we will continue to pursue new opportunities to
land major contracts with national retailers.”
Since taking over in July 2019, the DSS management team has
transformed Premier’s operations, investing in new manufacturing
equipment, people, and processes to increase its capacity, improve
quality and delivery, and ensure it has the horsepower it needs to
support its customers and grow with their changing demands.
“Our customer’s commitment to Premier demonstrates that the
investments we have made into our business strategy are starting to
show. These resources are the foundation and position this division
for substantial growth,” continued Grady.
Production on this contract will begin in the third quarter of
2020. Finished goods will ship to the customer’s more than 9000
locations. The retailer expects to open an additional 550 stores
over the next 12 months, which will potentially increase the value
of the contract.
For over 25 years Premier has been a market leader in providing
innovative and secure solutions for printing and packaging. Premier
is the smart packaging, and security
printing division of DSS.
With operations based in Victor, NY, and distribution
facilities on both coasts of the US, Premier services a variety of
nationally and regionally based customers. Premier’s client list
includes customers in the medical device, consumer
goods, nutraceutical, photo marketing and food and
beverage industries. Premier differentiates itself with an
empathetic approach to customer service driven by being a full
service, end-to-end solution provider that is large enough to be a
complete resource, while maintaining flexibility to react to ever
changing market and customer supply chain demands.
About Document Security Systems, Inc.
DSS is a multinational company operating businesses focused on
brand protection technology, blockchain security, direct marketing,
healthcare, real estate, and securitized digital assets. Its
business model is based on a distribution sharing system in which
shareholders will receive shares in its subsidiaries as DSS
strategically spins them out into IPOs. Its historic business
revolves around counterfeit deterrent and authentication
technologies, smart packaging, and consumer product engagement. DSS
is led by its Chairman and largest shareholder, Mr. Fai Chan, a
highly successful global business veteran of more than 40 years
specializing in corporate transformation while managing risk. He
has successfully restructured more than 35 corporations with a
combined value of $25 billion.
For more information on DSS
visit http://www.dsssecure.com.
Investor Contact:
Dave Gentry, CEO RedChip Companies Inc. 407-491-4498
Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements include, but are not limited to,
statements related to the Company's intended use of proceeds and
other statements that are not historical facts. Forward-looking
statements are based on management's current expectations and are
subject to risks and uncertainties that may cause actual results or
events to differ materially from those projected. These risks and
uncertainties, many of which are beyond our control, include: risks
relating to our growth strategy; our ability to obtain, perform
under and maintain financing and strategic agreements and
relationships; risks relating to the results of development
activities; our ability to attract, integrate and retain key
personnel; our need for substantial additional funds; patent and
intellectual property matters; competition; as well as other risks
described in the section entitled "Risk Factors" in the prospectus
and in our other filings with the SEC, including, without
limitation, our reports on Forms 8-K and 10-Q, all of which can be
obtained on the SEC website at www.sec.gov. Readers are cautioned
not to place undue reliance on the forward-looking statements,
which speak only as of the date on which they are made and reflect
management's current estimates, projections, expectations and
beliefs. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations or any changes in events, conditions or circumstances
on which any such statement is based, except as required by
law.
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