The reorder will see YPB provide an additional 200,000 high security vital record documents to the State of Jalisco, one of the largest of the 32 states in Mexico.
Announced in January 2016 and with a six year duration, the JV with Affyrmx LLC for the supply of government documents will initially focus on Mexico, and includes (but is not limited to) visas, vital records, ID cards and financial instruments.
Mexico has a population of more than 120 million and with 31 states plus one federated state, there are 32 potential sources of vital record documentation in the country. It is estimated that the total market for the supply of vital record documents in Mexico is 50-60 million documents per annum. Vital record documents are used by each state to document and certify births, deaths, marriage registrations and more.
YPB Executive Chairman John Houston said: "We are delighted that the Affyrmx JV has quickly provided an additional and rapidly growing revenue stream to YPB. The first reorder from the State of Jalisco indicates that this business has solid revenue potential. This is further validation of YPB's reputation as a trusted source of anti-counterfeit solutions to the highest levels of Government."
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About YPB Group Ltd
YPB Group Ltd (ASX:YPB) lives by three words - certainty of authenticity. We deliver on this through our experience in creating revolutionary, patented brand protection and customer engagement solutions. Solutions that detect and prove certainty of authenticity and connect brands directly to their customers, empowering them to engage one-on-one.
In an evolving marketplace and with the rapid growth of cross border commerce, our expertise presently focuses on the rapidly growing markets of Australia, South East Asia and China.
ContactMr. John Houston
Mr. Robert Whitton
CFO and Company Secretary