TagMaster opens Shanghai office

After a period of negotiations it is now decided that the acquisition of the assets in shanghai richor Commercial Co., ltd. will be realised. an agreement has been settled between the companies, stating that richors activities from now on will be carried out in the name of TagMaster and in the new facilities. The acquisition will be completed in October 2007. The new TagMaster subsidiary will be named TagMaster Identification Technology (Shanghai) Co. Ltd.

I am very pleased that we have come to this important agreement with richor. With the agreement in place TagMaster can fulfil its ambitions in China. Being able to reach local agreements with several very interesting distributors and partners, with our own people, will get us closer to the fast growing Chinese market. says anders Holmlund, 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 nformation services associated with automatic dentification. Application areas for TagMasters products nclude Automatic Vehicle Identification (AVI), Transportation and Security. 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.