New Partnership with Former Competitor Expected to Result in Doubling Sales of Livestock Tags in Denmark
Digital Angel (NASDAQ:DIGA), an advanced technology company in the field of animal identification and emergency identification solutions, announced today that its Destron Fearing unit has won a Danish government contract to provide livestock tags in Denmark for a minimum period of four years, beginning May 1. Destron Fearing was the only company to gain acceptance in all six contract categories: three categories of animal – cattle, swine, and sheep and goats – and for both types of tags: visual and electronic. To better serve the market, Destron Fearing has partnered with TraceCompany A/S, of Maribo, Denmark, in order to provide customers with local service and an expanded product offering. The partnership agreement has been established for a minimum period of eight years.
“We believe that this new partnership with TraceCompany should give us a leading position in the Denmark region,” commented Digital Angel Chief Executive Officer Joseph J. Grillo. “We look forward to providing the Danish market with the full range of products that Trace and Destron Fearing both have to offer, and we believe that the value of this contract could be in the range of $16.8 million over the life of the contract.”
About Digital Angel
Digital Angel (www.digitalangel.com) is an advanced technology company in the field of animal identification and emergency identification solutions. Digital Angel's products are utilized around the world in such applications as pet identification using its patented, FDA-approved implantable microchip; livestock identification and tracking using visual and radio frequency identification (RFID) ear tags; and global positioning systems (GPS) search and rescue beacons for use on aircraft, ships and boats, and by adventure enthusiasts.
This press release contains certain “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements included in this press release include, without limitation, those concerning expectations regarding the expected benefits and financial value of the partnership. These forward-looking statements are based on the Company's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions. Additional information about these and other factors that could affect the Company's businesses is set forth in the Company's Form 10-K under the caption "Risk Factors" filed with the Securities and Exchange Commission ("SEC") on March 31, 2009, and subsequent filings with the SEC. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
Digital Angel
Jay McKeage, 651-554-1564
jmckeage@digitalangel.com
