Jun 8 2010
Safeguard Security Holdings, Inc. (OTC:SSHS), a provider of corporate, industrial and residential security solutions, announces today that its subsidiary, SYSTEMSgroup Technologies, has signed distribution rights for Latin America, distributing a full line of armored solutions, including production fabrication of glass, steel, composite, ceramics and armored vehicles.
SYSTEMSgroup Technologies has entered into an agreement with its teaming partner, Twenty-first Century Armor Solutions, distributing a full line of armored products to include armored vehicles, transparent armoring and opaque armoring products, providing services to Latin America. The product mix includes ballistic glass for commercial and residential structures, ballistic auto glass, and customized laminated glass with various ballistic ratings.
R. Michael Lagow, CEO for Safeguard, stated, “Last month, we announced that we were entering into the armored products market and we received a lot of media attention concerning this announcement. On Wednesday of last week, Security Systems News sent Dan Gelinas, Associate Editor, to our office to cover the story . Jim Gang, Principle and Director of Business Development for Twenty-first Century Armor Solutions, and our senior management team, were still hammering out the final details for the Latin America territory during Mr. Gelinas visit. By close of business on Friday, we agreed on the proposed distribution model and marketing plan.” Lagow added, “This is a significant revenue stream for Safeguard, and provides another layer of protection for our clients there. With the addition of the Latin America territory to our distribution channel and once the business line is matured, this will add approximately $12 million per year to our revenue stream, generating a 10% pre-tax profit to our bottom-line.”
Source: http://www.safeguardsecurityholdings.com/