Technology summit endorses RFID counterfeiting solutions in line with Traxxec technology
Columbia River Resources Inc - (Pink sheets OTC:CRVR.pk)
NEWCASTLE UNDER LYME, UK, May 13 /CNW/ - At the Americas Technology Summit, held on April 16-17th 2008 in San Juan, Puerto Rico, initiatives by the Food and Drug Administration (COMBATING COUNTERFEIT DRUGS) and Walmart (RFID Guidelines and Requirements for CII Pharmaceuticals), were strongly endorsed.
The Traxxec product (a HDPE Radio Frequency enabled bottle) addresses the needs of pharmaceutical manufacturers required to implement RFID by providing a solution to ‘tagging of goods’ and the option of using existing packaging processes and legacy systems with a RFID product more robust than “slap and ship”.
Traxxec has undertaken two pilot proof of concept implementations followed by an industry funded feasibility study that demonstrated the need and benefits of pharmaceutical packaging products supplied already radio frequency enabled.
Traxxec’s first commercial product was supplied in UK in 2005 (when the technology patent application was also made) and the first US order in 2006. The technology has now been licensed to Rexam Plc.
This endorsement is in line with Traxxec’s findings that bar codes were inferior to RFID because of their requirement of line of sight and orientation difficulties. With the Traxxec product, there’s no need to orientate scanned items. The cost of opening and orienting boxes proved to be a significant cost in the cost/benefit analysis conducted by Traxxec and a major headache especially in the case of re-labelling product.
Amy Scopes, CEO, said, “this endorsement opens the door for our technology in that not only have we begun negotiating for the provision of our products to the pharmaceutical industry, but more importantly we have proof of concept in partnership with the major pharmaceutical companies. Endorsement for RFID, use together with the marketing of our product in full swing through our licence partner Rexam, will continue the global move towards RFID as the standard within packaging and accelerate the performance of our company”.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words “estimate,” “project,” “intends,” “expects,” “believes,” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbour” provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Columbia River Resources Inc. see “Risk Factors” in the Company’s Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
Comments
You must be logged in to post a comment.
