Spectra Systems Corporation New Opportunity in Consumer Products
05 October 2017 - 5:00PM
RNS Non-Regulatory
TIDMSPSY
Spectra Systems Corporation
05 October 2017
Spectra Systems Corporation
("The Company" or "Spectra Systems")
New Opportunity in Consumer Products
Spectra Systems, a leading supplier of authentication technology
for banknotes, brand authentication and tax stamps, is delighted to
announce a five year agreement with LMI Packaging Solutions of
Pleasant Prairie, Wisconsin to incorporate Spectra Systems
authentication technology into LMI produced coffee K-cup lids.
Spectra System's coating formulation will allow coffee suppliers
producing their K-cup lids at LMI Packaging Solutions to have
complete functionality in the Keurig K-cup system which uses
internal sensors that allow it to only work with specific material
signatures printed on the K-cups. Under the agreement, Spectra
Systems must supply its technology for K-Cups exclusively to LMI
Packaging Solutions for the first 18 months.
Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "This
agreement with LMI has validated our ability to provide security
products in the consumer products market where an increasing number
of manufacturers are using sensors to lock their hardware with the
associated consumables. Working with LMI has been one of the
smoothest product developments we have had and we are confident in
their ability to attract more customers to their lids that use our
materials."
"We are confident that over time this new line will grow into a
stable source of revenue and profit. The total global K-Cup market
in which LMI is participating is already over 10 billion units per
year."
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer Tel: +1 (0) 401 274 4700
WH Ireland Limited
Chris Fielding (Head of Corporate Finance) Tel: +44 (0) 20 7220 1650
This information is provided by RNS
The company news service from the London Stock Exchange
END
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