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WirelessDevNet.com Press Release
2-Track Global Inc Today Announce Execution of Distributorship Agreement With Ingecom Sarl
NEW YORK-- Aug. 25, 2006-- 2-Track Global Inc (OTCBB:TOTG) today announced its UK subsidiary, 2-Track Limited, had been appointed as the authorised distributor for the sale and distribution of the Swiss company's specialist RFID products. Under the terms of the arrangement, 2-Track shall be the exclusive distributor of the products in Korea and shall be non-exclusive distributor of the products in India, Pakistan and certain Middle Eastern countries. The agreement initially is for a period of one year and subject to satisfactory performance by both sides will be extended for a period of 3 years.
Mike Jung, President of 2-Track Global Inc, commented "Ingecom Sarl have a series of products which are entirely complementary to our existing technology including UHF reader and passage tags, temperature sensor kits, active tag controllers to name but a few. The tie up will enable us to sell certain of this technology to third parties as added enhancement features to the existing 2-Track technology. It has long been the company's policy to seek commercial tie ups with third parties who already have the capability and have developed products which are complementary to the 2-Track technology. This saves on expensive R&D costs and enables us to move straight into the marketplace with add-ons which the customers require".
Mr Desjeux of Ingecom Sarl commented "We have been looking for a distributor of our products in certain territories where we have little or no penetration and we are delighted to have reached an agreement with 2-Track. They have very exciting technology and there are parts of our technology which could be utilised by them in their own systems integration for their customers. The RFID market is expanding dramatically and the execution of these distributorship arrangements will be beneficial to both companies. There is an enormous potential for growth and revenue generation".
2-Track Global Inc (TOTG) is a technology development and marketing company which owns, operates and licences proprietary telematics solutions combining hardware and software applications run over wireless or satellite networks to deliver remote security management of marine and cargo fleets (including consumer solutions aimed at the leisure, marine and domestic security markets) and commercial vehicle plant and machinery management and security. The company has communications architecture technology which provides global logistics solutions for the remote monitoring of freight containers over multiple transport mores.
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