Digital Angel Subsidiary Daploma Signs Distribution Agreement With United Kingdom Livestock Tagging Company Ritchey PLC
March 10 2006 - 9:00AM
PR Newswire (US)
Partnership Provides Digital Angel Products Entry Into Livestock
Markets in the UK, Republic of Ireland SO. ST. PAUL, Minn. and
HVIDORE, Denmark, March 10 /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 its
Denmark-based subsidiary, Daploma International A/S, has signed an
exclusive four-year distribution agreement with UK-based Ritchey
PLC, a well known manufacturer and distributor of ear tags and
equipment for livestock. The agreement calls for Daploma to produce
its full range of visual and electronic RFID ear tags, scanners and
other related equipment that Ritchey will distribute through its
established channels in the United Kingdom and Ireland. The
agreement provides Digital Angel entry into the UK and Ireland,
with an estimated market size of 17.5 million livestock, and 40
million sheep and goats, most of which require more than one tag.
These two potentially lucrative markets are significant barriers
for new companies where Ritchey is a known and respected
distributor. Ritchey, which has been in the livestock tagging
business for more than 30 years, is considered the leading
distributor of cattle tags in the UK market and the leader in the
tagging markets for sheep and goats in both the UK and Ireland. The
Digital Angel tags and equipment will also be sold in the swine
markets in both countries. "This is a significant milestone for us
because there is no better partner in the UK and Irish livestock
industry than Ritchey," said Digital Angel CEO Kevin N. McGrath.
"We have been working for years to penetrate these substantial
markets, which are difficult because they are so fragmented. But
Ritchey gives us a respected partner with established and
prosperous distribution channels that will provide us new markets
for our tags. I'd like to thank and congratulate our Daploma team,
including Lasse and Torsten Nordfjeld, for working so diligently to
make this happen and we look forward to working with the Ritchey
team." Digital Angel purchased Daploma, a company that has been in
the livestock tagging business for 30 years, in March 2005. Daploma
has also successfully established markets in Europe, the Middle
East, Japan and Australia. About Ritchey PLC Ritchey has been
designing and manufacturing livestock ear tags for more than 30
years and works closely with government departments on national
identification schemes worldwide. Ritchey offers customers an
extensive range of livestock, equine and pet healthcare and
grooming products plus unparalleled service and after sales support
through its exclusive partnership with agricultural merchants
throughout the country. 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, Applied Digital Solutions, Inc. owns
55.4% of the Company's common stock, new accounting pronouncements
regarding expensing of share based compensation may impact the
Company's future results of operations, the Company may continue to
incur net losses, infringement by third parties on the Company's
intellectual property or development of substantially equivalent
proprietary technology by the Company's competitors could
negatively impact the Company's business, domestic and foreign
government regulation and other factors could impair the Company's
ability to develop and sell its products in certain markets, the
Company relies on sales to government contractors for its animal
identification and search and rescue beacon products, and any
decline in the demand by these customers for such products could
negatively affect the Company's business, the Company depends on a
single production arrangement for its patented syringe-injectable
microchips, and the loss of or any significant reduction in the
production could have an adverse effect on the Company's business,
technological change could cause the Company's products to become
obsolete, the loss of one of the Company's principal customers
could negatively impact the Company's net revenue, the Company's
earnings will decline if the Company writes off goodwill and other
intangible assts, options and warrants outstanding and available
for issuance may adversely affect the market price of the Company's
common stock, currency exchange rate fluctuations could have an
adverse effect on the Company's sales and financial results, the
Company depends on a small team of senior management. 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, 2005. 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) Len Hall (media) 212-691-8087 949-474-4300
DATASOURCE: Digital Angel Corporation CONTACT: Investors, Michael
Lucarelli, +1-212-691-8087, , or Media, Len Hall, +1-949-474-4300,
, both of Allen & Caron Inc, for Digital Angel Corporation Web
site: http://www.digitalangelcorp.com/
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