First Military Contract in Mexico
- Mexican Armed Forces places first order for supply of Vital Record Documents
- Initial order for 10,000 units
- Potentially lucrative opportunity with Mexican Armed Forces
Despite a modest initial order of 10,000 units, this contract marks the entry into a potentially lucrative market for YPB and one not foreseen in the original business plan of the Affyrmx JV. This first contract with the Armed Forces builds on the JV's Vital Records contracts won earlier in 2016 with four Mexican states. Mexico has 32 States and a total population of over 120 million people and the JV anticipates success with further states in 2017.
The Mexican Armed Forces is comprised of Army, Air Force, Navy, Marines and Coast Guard and according to the CIA World Fact book, Mexico's available military manpower is 72,000,000 (males and females age 18-49, 2009 est.), with 58,000,000 fit for military service, and 2,638,214 annually reaching military service age. All branches of the Armed Forces have an annual need for a range of YPB's security documents such as those being supplied or proposed to other Government customers in Mexico including ID Cards, Vital Records and Employee Passes.
YPB Executive Chairman Mr John Houston said: "Since commencing the Affyrmx JV in early 2016, our confidence in the Mexican opportunity has grown and we are optimistic of our Mexican JV becoming a significant business for YPB. Although modest, this first order from the military is a good, further step in the Affyrmx JV becoming a key supplier of a variety of Government Vital Documents to all levels and arms of Government in Mexico."
About YPB Group Ltd
In a rapidly changing world, brands need to do more than make great products, they need to PROTECT their consumer by allowing them to verify that their purchase is real and as a result buy with confidence. This is a proven initiative to trigger the consumer to CONNECT with brands.
YPB Group Ltd (ASX:YPB) provides real protection for quality brands with a focus on product authenticity. Simultaneously, we provide a gateway for brands to connect with their consumers and engender trust in authenticity by utilising the power of the smartphone.
In an evolving marketplace and with the rapid growth of cross border commerce, YPB leverages serialisation and patented authentication solutions so that insightful data can flow between brands and their consumers.
YPB is the obvious choice to PROTECT, DETECT and CONNECT.
YPB Group Ltd