Digital Angel to Market Electronic RFID Livestock Tagging Systems in Brazil, World's Largest Beef Exporter
August 10 2006 - 7:30AM
PR Newswire (US)
Company Also Begins Manufacturing Livestock Tags in Argentina SO.
ST. PAUL, Minn., Aug. 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 it
signed a distribution agreement with a Brazilian company to begin
selling electronic RFID (radio frequency identification) livestock
tags, antennas and readers throughout Brazil, the largest beef
exporting country in the world and home to nearly 200 million
cattle, which is twice the size of the U.S. market. Digital Angel
also announced that it has begun manufacturing livestock tags in
Argentina. Digital Angel has signed an agreement with
Digitaltronic, a Brazilian company located in the cattle rich state
of Sao Paolo. Reflecting the impact of this new agreement, Digital
Angel now has a sales presence in six Latin American countries
including Argentina, Brazil, Chile, Ecuador, Mexico and Uruguay.
Digital Angel President and Chief Executive Officer Kevin N.
McGrath said the Company had already received two orders whose
combined valued is more than $200,000 from Digitaltronic, a company
whose executives have strong ties to the cattle industry. "We
continue to make steady progress penetrating the rapidly expanding
South American market," McGrath said. "We believe Digitaltronic
provides us a very strong footprint in Brazil, which is moving
quickly toward electronic tagging as a means to eliminate Hoof and
Mouth Disease and enhance cattle traceability, which should help
bolster their already strong beef export industry. Furthermore, our
manufacturing facility in Argentina will help us be much more
competitive throughout the region. Since we have the superior
technology in the livestock tagging industry, we believe an
entrance into Brazil and our stronger presence throughout South
America are important milestones for Digital Angel." The two
Brazilian livestock regulatory agencies, Embrapa (Brazilian
Agriculture and Research Corporation) and SISBOV (Brazilian System
of Identification and Certification of Origin for Bovine and
Buffalo) are working together to develop and promote electronic
traceability to help eradicate disease in Brazil. According to the
IBGE (Brazilian Institute of Geography and Statistics), the area
devoted to the cattle industry in Brazil covers more than 1.8
million square miles. 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 Applied Digital Inc. owns 55.4%
of the Company's common stock, that 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 assets, 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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