VUANCE Announces $13.8 Million Agreement for Perimeter Security and Border Control at European International Airport
05 Setembro 2007 - 9:30AM
PR Newswire (US)
Agreement Contributes Significantly to Vuance's Revenues over Two
Years QADIMA, Israel and MCLEAN, Va., Sept. 5
/PRNewswire-FirstCall/ -- Vuance Ltd. (formerly SuperCom Ltd.)
(Nasdaq: VUNC; Euronext: VUNC), a leading provider of incident
management and active RFID solutions to homeland security, public
safety, commercial, institutional and governmental markets, today
announced that it has entered into a definitive agreement (the
"Agreement") with a European international Airport to provide an
integrated perimeter security system and a border control system
for a total of $13.8 million. The establishment of the security and
control system will begin during the third quarter of 2007. While
revenues from the contract are expected to be recognized over the
next two years, Vuance has already received a substantial portion
of it as an advance payment. Once the system has been implemented,
there is likely to be an additional eight-year maintenance
agreement that could generate an additional $750,000 in annual
revenues. "We are very excited about this Agreement, which will
contribute significantly to our revenues in 2007, 2008 and possibly
beyond," stated Eyal Tuchman, Chief Executive Officer of Vuance
Ltd. "This contract demonstrates our abilities to address the need
for effective perimeter security and border control at
international airports and other venues, and to provide our
solutions where the safety and security of personnel, passengers
and facilities are of critical importance." About VUANCE Ltd.
Vuance Ltd. provides innovative incident management, active RFID,
access control and credentialing solutions to public safety,
commercial, institutional and government sectors. The Company's
Incident Response Management System (IRMS) is the industry's most
comprehensive mobile credentialing and access control system,
designed to meet the needs of Homeland Security and other public
initiatives. Vuance's Active RFID is a complete, cost-effective
solution for the continuous tracking of assets and individuals. For
more information, visit the Company's website at
http://www.vuance.com/. Vuance Ltd. is headquartered in Qadima,
Israel and its U.S. subsidiary is based in McLean, Virginia. Vuance
common stock is listed on the NASDAQ Capital Market and on the
Euronext Exchange under the symbol "VUNC". For more information,
visit http://www.vuance.com/. Safe Harbor This press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These statements
are subject to known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Statements preceded or followed by or that otherwise
include the words "believes", "expects", "anticipates", "intends",
"projects", "estimates", "plans", and similar expressions or future
or conditional verbs such as "will", "should", "would", "may" and
"could" are generally forward-looking in nature and not historical
facts. Forward-looking statements in this release also include
statements about business and economic trends. Investors should
also consider the areas of risk described under the heading
"Forward Looking Statements" and those factors captioned as "Risk
Factors" in the Company's periodic reports under the Securities
Exchange Act of 1934, as amended, or in connection with any
forward-looking statements that may be made by the Company. The
Company also disclaims any duty to comment upon or correct
information that may be contained in reports published by the
investment community. Investor/Media Contacts North America Israel
Jerry Cahn, Ph.D., J.D. Jerry Falkner, CFA Alex Somech Target 3
Communications RJ Falkner & Company Tel: +972-8-9799-000 Tel:
646-827-0009 Tel: 800-377-9893 Fax: +972-50-8961-570 Fax:
646-827-9009 Fax: 830-693-6600 Mobile: +972-54-4297-754 DATASOURCE:
Vuance Ltd. CONTACT: Jerry Cahn, Ph.D., J.D., Target 3
Communications, +1-646-827-0009, ; Jerry Falkner, CFA, RJ Falkner
& Company, 1-800-377-9893, , or Alex Somech, +972-8-9799-000,
Web site: http://www.vuance.com/
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