in the future, safe intermodal transportation will depend on utilization of smart technologies. Combining the talents and expertise of CYBRA and its Joint Venture partners, Key West and the WTI, we believe that our abilities to commercialize products will be of great benefit to shippers and insurers who would be willing to pay a premium for this added value.
Yonkers, NY (PRWEB) September 22, 2009
CYBRA Corporation (OTC BB: CYRP.OB), and its partner, Key West Technologies LLC, signed an agreement with the Peoples Republic of China Ministry of Transportation's Waterborne Transportation Institute(WTI) to form a joint venture to develop, manufacture, and market leading edge products that add intelligence to shipping products to track and monitor goods throughout the supply chain. These products will consist of smart shipping containers and other smart transport units that will create an unprecedented level of visibility in maritime shipping. The Joint Venture company will be named Beijing Smart Shipping Technologies Co., Ltd (SST).
The underlying technology will be based upon CYBRA's EdgeMagic® RFID Control Software, and Key West Technologies LLC's Globe Tracker Global Tracking and Monitoring Data Exchange Network, as well as additional intellectual property developed under the joint venture. Harnessing RFID and specialized sensors, the venture's resulting products and services will let shippers know where their goods are by the minute, and more importantly, what is the condition of the goods in transit.
PingXian Hu, Director General of China Ministry of Transportation's Waterborne Transportation Institute stated, "We are excited to partner with CYBRA and Key West Technologies to develop and bring to market key "smart" shipping components like Smart Containers to the world's only real end-to-end global tracking and monitoring solution." Mr. Hu continued, "using CYBRA's EdgeMagic and Globe Tracker's Global Tracking and Monitoring Data Exchange Network, supply chain partners will be able to continuously track, monitor, and manage SST Smart Containers and each piece of cargo they carry, anywhere in world."
Harold Brand, Chairman and CEO of CYBRA commenting on the signing of the joint venture said, "in the future, safe intermodal transportation will depend on utilization of smart technologies. Combining the talents and expertise of CYBRA and its Joint Venture partners, Key West and the WTI, we believe that our abilities to commercialize products will be of great benefit to shippers and insurers who would be willing to pay a premium for this added value."
At the signing ceremony in the offices of the PRC Ministry of Transportation's Waterborne Transportation Institute in Beijing, Globe Tracker CEO Jim Davis displayed an early prototype SST tracking device developed by Key West and its technology partners that will include ultra-low power Wi-Fi technology from GainSpan Corporation of Los Gatos, California. "China will very likely continue to lead the world in exports for some time and we hope that through our combined efforts, the Joint Venture will have a leadership role in End-to-End Supply Chain Tracking, Monitoring and Management," said Davis.
For more than 20 years the world's leading brands have turned to CYBRA Corporation for advanced Auto-ID technology that includes bar code label and tag printing, barcode scanning systems and RFID. CYBRA is the developer of EdgeMagic® Integrated RFID Control Software and award-winning MarkMagic™ Bar Code Labels, RFID Tags, Electronic Forms, and Report Writing Software. CYBRA's Auto-ID solutions are used by thousands of customers worldwide, and have been selected as the Auto-ID engine of such leading software developers as Manhattan Associates™, Infor™ and VAI™.
CYBRA's EdgeMagic is designed to manage edge devices, read RFID tags and can be easily integrated with ERP, WMS, and other applications. Perfect for developing "track and trace" closed loop RFID applications, EdgeMagic is an end-to-end solution for managing EPC (Electronic Product Code) compliance mandates.
MarkMagic includes: JMagic, a WYSIWYG label and forms designer, integrated application generation, true conditional printing with dynamic formatting, and support for more than 450 label and forms printer types including RFID Smart Label Printing.
CYBRA software products run on the IBM System i (AS/400, iSeries), AIX, Linux and Windows servers.
CYBRA Corporation is located at One Executive Boulevard, Yonkers, NY 10701. Product information is available toll free at 1-800-CYBRA-88. CYBRA's web site is located at http://www.cybra.comhttp://www.cybra.com. To request information via e-mail, write to: info at cybra.com
Forward Looking Statements
This release and other statements issued or made from time to time by the company or its representatives contain forward-looking statements within the meaning of Rule 175 of the Securities Act of 1933, as amended, and Rule 3b-6 of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about our industry, our beliefs and our assumptions. Words such as "anticipates", "expects", "intends", "plans", "believes", "seeks" and "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.
These forward-looking statements include statements regarding projected revenue and income in future quarters and our beliefs with respect to the growth in the demand for our products. Other risks and uncertainties that may affect our business include our ability to expand beyond the IBM System i market for MarkMagic and expand into the radio frequency identification ("RFID") market with EdgeMagic; our ability to penetrate the emerging and competitive market for bar code and RFID encoding software; our ability to introduce, produce, improve and market new products, such as MarkMagic and EdgeMagic, and the market acceptance of these and other products; the impact of competitive products and pricing; and our timely development of new products and market acceptance of those products. Actual results may differ from those expressed or implied in our forward-looking statements. These statements represent beliefs and expectations only as of the date they were made. We may elect to update forward-looking statements, but we expressly disclaim any obligation to do so, even if our beliefs and expectations change. In addition to the statements described above, such forward-looking statements include the risks and uncertainties described more fully in our reports filed or to be filed with the Securities and Exchange Commission, including our annual reports on Form 10-K and quarterly reports on Form 10-Q.