TagMaster secures presence on Chinese market and reduces risk and financial outlay by signing new contracts with Richor.
TagMaster, leading producer of advanced RFID solutions for long range identification, has reached a new agreement with its long-term business partner Shanghai Richor Commercial Co., Ltd, (Richor). Richor will stay as distributor in China, instead of being acquired by TagMaster. TagMaster secures continued presence on the important Chinese market, whilst reduces risk&financial outlay.
As result of the agreements, TagMaster will liquidate its two subsidiaries TagMaster China Holding Co., Ltd in Hong Kong and TagMaster Identification Technology Co., Ltd in Shanghai.
TagMaster has an excellent business partner in Richor. The company has strong presence in the Transportation industry and in-depth knowledge of RFID and TagMasters products after many years of close partnership. With mutual objectives we will increase market activities and focus on revenue growth in China, including continued deliveries to the project for automatic power switching., says Christopher Grahn, President & CEO, TagMaster AB.
About TagMaster AB
TagMaster is a Swedish technology company founded 1994 with headquarters in Kista (Stockholm), Sweden. TagMaster designs and markets advanced long-range radio frequency identification (RFID) systems and information services associated with automatic vehicle identification, rail bound transportations and people access, in order to increase efficiency, security, convenience and to decrease environmental impact. TagMaster exports mainly to Europe, Asia and North America via global network of partners, systems integrators and distributors. TagMaster shares are traded on First North in Stockholm, Sweden. TagMasters Certified Adviser is Remium AB. www.tagmaster.com
For additional information, please contact:
Christopher Grahn, President & CEO, TagMaster AB
Telephone: +46 8 632 1950
christopher.grahn@tagmaster.com
TagMaster has an excellent business partner in Richor. The company has strong presence in the Transportation industry and in-depth knowledge of RFID and TagMasters products after many years of close partnership. With mutual objectives we will increase market activities and focus on revenue growth in China, including continued deliveries to the project for automatic power switching., says Christopher Grahn, President & CEO, TagMaster AB.
About TagMaster AB
TagMaster is a Swedish technology company founded 1994 with headquarters in Kista (Stockholm), Sweden. TagMaster designs and markets advanced long-range radio frequency identification (RFID) systems and information services associated with automatic vehicle identification, rail bound transportations and people access, in order to increase efficiency, security, convenience and to decrease environmental impact. TagMaster exports mainly to Europe, Asia and North America via global network of partners, systems integrators and distributors. TagMaster shares are traded on First North in Stockholm, Sweden. TagMasters Certified Adviser is Remium AB. www.tagmaster.com
For additional information, please contact:
Christopher Grahn, President & CEO, TagMaster AB
Telephone: +46 8 632 1950
christopher.grahn@tagmaster.com
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