Printer Friendly

CHECKPOINT COMPLETES ACQUISITION OF ID SYSTEMS IN EUROPE; CONTINUES AGGRESSIVE INTERNATIONAL GROWTH PROGRAM

 THOROFARE, N.J., July 12 /PRNewswire/ -- "European retailers will now have direct access to the most effective loss prevention system in the world today," said A. E. Wolf, Chairman and Chief Executive Officer of Checkpoint Systems, Inc. (OTC:CHEK) in announcing today that Checkpoint has completed its previously announced acquisition of ID Systems International B.V. and ID Systems Europe B.V., related Dutch companies engaged in the manufacture, distribution and sale of security products and services, which had consolidated sales of approximately $20 million in 1992.
 "This transaction, which provides Checkpoint with its own marketing and distribution network in major European markets and the combined product lines of both companies, offers an exciting opportunity for Checkpoint to expand and build its international business. In addition, European retailers, who previously purchased Checkpoint products through distributors, will benefit from the Company's direct access to this marketplace, since Checkpoint be able to provide its current customers with a higher level of service and a broader array of loss prevention products, and will be better positioned to reach prospective customers," Mr. Wolf said.
 "This acquisition and Checkpoint's commitment to growing its European business are a reflection of the strategic program that we have undertaken in the past year to build sales and market share in Checkpoint's key markets worldwide, and which enabled Checkpoint to achieve revenue growth of over 36 percent in 1992 and almost 41 percent in the first quarter of 1993. Going forward, we will continue to implement an aggressive growth strategy and take advantage of opportunities to broaden our markets and strengthen Checkpoint's international presence," Mr. Wolf said.
 Checkpoint's acquisition of ID Systems was made possible by an agreement that it reached with Sensormatic Electronics Corporation to terminate the companies' European distributorship agreement. Sensormatic became Checkpoint's European distributor in May of 1992 when it acquired Checkpoint's previous distributor in Europe. As part of the agreement with Sensormatic, Checkpoint will receive a $3.5 million termination payment.
 Checkpoint Systems, Inc. offers a variety of security and loss prevention solutions for the protection of assets in diverse market applications. As the leading developer of advanced microprocessor- and radio frequency-based security systems, the Company has more than 20 years' experience in the loss prevention industry. Checkpoint's Electronic Articles Merchandising(R) (EAM(R)) and Electronic Access Control systems are based on its Electronic Signatures(R) technology which makes unique radio signals assignable to items or people. Using detectable paper-thin disposable targets that can be activated and deactivated, the Company's EAM systems are installed in more than 70,000 retail locations worldwide.
 -0- 7/12/93
 /CONTACT: Steven Selfridge of Checkpoint Systems, 609-384-2473 or Andrew Baer, Wendi Kopsick, 212-593-2655 of Kekst & Co., for Checkpoint/
 (CHEK)


CO: Checkpoint Systems, Inc.; ID Systems International B.V. ST: New Jersey IN: SU: TNM

LG -- NY012 -- 0243 07/12/93 08:34 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 12, 1993
Words:474
Previous Article:ALCO STANDARD COMMENTS ON PRELIMINARY RESULTS FOR THIRD QUARTER
Next Article:PECO OPENS NEW CHESTER CUSTOMER SERVICE OFFICE
Topics:


Related Articles
CHECKPOINT AND SENSORMATIC REACH AGREEMENT COVERING VARIETY OF BUSINESS ISSUES; CHECKPOINT TO ACQUIRE EUROPEAN DISTRIBUTOR
CHECKPOINT REPORTS RECORD SECOND QUARTER REVENUES
Synopsis Of Checkpoint Systems, Inc. Presentation At Southeast Research Partners Sixth Annual Institutional Conference
Court Sets Trial Date in ID Systems' $270,000,000 Antitrust Lawsuit Against Checkpoint Systems.
ID Systems Wins $80,000,000 In Antitrust Lawsuit Against Checkpoint Systems.
Checkpoint Systems Ordered To Post Security To Delay Execution of $80,000,000 Antitrust Judgment.
Argument Heard In ID Systems' $80,000,000 Case Against Checkpoint Systems.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters