Digital Angel Corporation Receives Order for 1.1 Million Visual Identification Tags From Smithfield Foods in Poland
December 15 2005 - 7:25AM
PR Newswire (US)
First Shipments of Tags to World's Largest Processor of Pig
Products Has Begun SO. ST. PAUL, Minn., Dec. 15
/PRNewswire-FirstCall/ -- Digital Angel Corporation (AMEX:DOC), an
advanced technology company in the field of rapid and accurate
identification, location tracking, and condition monitoring of
high-value assets, announced today that it has received a purchase
order from Smithfield Foods Inc., the world's largest pork
producer, for 1.1 million visual ear identification tags for
Smithfield's swine operations in Poland. The first shipments of the
visual tags to Smithfield began this month and the remainder will
be shipped on a monthly basis. The order calls for Digital Angel's
Denmark-based subsidiary, Daploma International, to deliver the
tags to the various farms Smithfield owns and operates throughout
Poland. Digital Angel is working with PPA POLNET, Poland's largest
tag distributor, on the Smithfield account. European Union
regulations require that all pigs, cattle and livestock throughout
Europe, including Poland, be tagged for identification and
traceability purposes. While the requirements allow tattooing of
pigs, Smithfield has chosen to use visual tags to insure better
traceability. "This is a significant order from Smithfield and
obviously a very important milestone for Digital Angel," said
Digital Angel CEO Kevin McGrath. "Smithfield is a respected and
innovative leader in meat processing throughout the world and is
known for the quality of their products. We are proud they have
chosen us as a supplier to help them in that effort. We look
forward to working closely with them and demonstrating our ability
to provide the best in identification and traceability services."
McGrath added that the order from Smithfield demonstrates the value
of Digital Angel's recent purchase of Daploma and the importance of
the Company's global reach. "Livestock tagging and tracking is a
global business and we are working diligently to capture
significant portions of the market all over the world," McGrath
said. "There is no question that Eastern Europe, in addition to
North and South America, is an important market and we believe this
new relationship with Smithfield bodes well for our future in that
part of the world." About Digital Angel Corporation Digital Angel
Corporation develops and deploys sensor and communications
technologies that enable rapid and accurate identification,
location tracking, and condition monitoring of high-value assets.
Applications for the Company's products include identification and
monitoring of humans, pets, fish, poultry and livestock through its
patented implantable microchips; location tracking and message
monitoring of vehicles and aircraft in remote locations through
systems that integrate GPS and geosynchronous satellite
communications; and monitoring of asset conditions such as
temperature and movement, through advanced miniature sensors.
Digital Angel Corporation is majority-owned by Applied Digital Inc.
(NASDAQ:ADSX). For more information about Digital Angel, please
visit http://www.digitalangelcorp.com/. The statements in this
press release that are not strictly historical, are
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to be covered by the safe
harbors created by these sections. The forward-looking statements
are subject to risks and uncertainties and the actual results that
the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties,
including, but not limited to, that the Company's majority
stockholder, Applied Digital Inc. owns 55.4% of the Company's
common stock; that new accounting pronouncements may impact the
Company's future results of operation; that the Company may
continue to incur losses, that infringements by third parties on
the Company's intellectual property or development of substantially
equivalent proprietary technology by the Company's competitors
could negatively affect the Company's business; that domestic and
foreign government regulation and other factors could impair the
Company's ability to develop and sell the Company's products in
certain markets; that the Company relies on sales to government
contractors of its animal identification products, and any decline
in the demand by these customers for the Company's products could
negatively affect the Company's business; that the Company depends
on a single production arrangement for its patented
syringe-injectable microchips; that the Company depends on
principal customers; that the Company competes with other companies
and the products sold by the Company's competitors could become
more popular than the Company's products or render the Company's
products as obsolete; that the Company's earnings will decline if
the Company must write-off goodwill and other intangible assets;
that the exercise of options and warrants outstanding and available
for issuance may adversely affect the market price of the Company's
common stock; that currency exchange rate fluctuations could have
an adverse effect on the Company's sales and financial results; and
that the Company depends on a small team of senior management and
the Company may have difficulty attracting and retaining additional
personnel. A detailed statement of risks and uncertainties is
contained in the Company's reports to the Securities and Exchange
Commission, including in particular the Company's Form 10-K for the
fiscal year ended December 31, 2004. Investors and stockholders are
urged to read this document carefully. The Company can offer no
assurances that any projections, assumptions or forecasts made or
discussed in this release will be met, and investors should
understand the risks of investing solely due to such projections.
The Company undertakes no obligation to revise any forward-looking
statements in order to reflect events or circumstances that may
arise after the date of this press release. Contact: Allen &
Caron Inc Michael Lucarelli (investors) Brian Kennedy (media)
212-691-8087 212-691-8087 DATASOURCE: Digital Angel Corporation
CONTACT: Investors, Michael Lucarelli, +1-212-691-8087, , or Media,
Brian Kennedy, +1-212-691-8087, , both of Allen & Caron Inc for
Digital Angel Corporation Web site:
http://www.digitalangelcorp.com/
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