World Isotec, Inc., a subsidiary of World Am, Inc. (OTCBB: WDAM), reported the signing of a distribution agreement with Checkpoint Security Systems Group, Inc., a subsidiary of Checkpoint Systems, Inc. (NYSE: CKP). The agreement calls for coverage of ten Southeastern states and significantly increases Isotec’s distributor presence by nearly 50%, with the total number of distribution points equaling thirty-one worldwide. The company saw a rise of 50.00% on Tuesday.
Checkpoint Security Systems will begin marketing Isotec’s automated security portals in its already established distributorships in Delaware, Maryland, Virginia, District of Columbia, North and South Carolina, Alabama, Mississippi, and Florida. With annual revenues of approximately $700 million, Checkpoint Systems is a leader in the manufacturing and marketing of identification, tracking, security, and merchandising solutions for the retail industry and its supply chain.
“This is an especially big win, and validation, for our company and its technology,” stated Isotec President Ken Jochim. “It’s not every day you can grow your distributorship potential by half with one new agreement. Moreover, Jochim added, “we hope to further increase that penetration, as Checkpoint Security’s mission is to grow its marketplace to a nationwide level over the next several years.”
World Am, Inc. is in the business of developing, manufacturing, and distributing automatic passage control (APC) and security devices. The company also engages in marketing technologies in the field of micro-sensor elements and sensor arrays in the U.S. Their products are used to monitor or control access, egress, or passage from one area to another, such as airport security portals, office building entries and exits, gates, public building access points, laboratories, hospitals, and government agency buildings.
Checkpoint Systems, Inc. is the leading supplier of shrink management solutions. Along with their global team partners, the company helps fight the $98 billion global retail theft situation. Comprising of more than forty-years of RF technology experience, Checkpoint currently has more than one million RF devices installed in stores around the world.
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