Spectra Systems pushed upwards by China order
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AIM-listed authentication and security specialist Spectra Systems (LON:SPSY) has received the first orders from China for its smartphone-based product authentication program. The order will cover 6-8 million packets of premium cigarettes, allowing consumers to verify authenticity.
CEO Dr. Nabil Lawandy said: “We are delighted that Zhejiang Tobacco has decided to increase their commitment to the technology from large scale manufacturing testing to introducing the technology to the market with a very sought after high end tobacco product for sale primarily in China. This is particularly good news in light of the existing strained trade relations between the USA and the Peoples Republic of China. We are optimistic that this first launch with one of the highest value cigarette brands in China will lead to the adoption of TruBrandTM across larger volume product lines, that could downstream result in over a billion units annually from this supplier alone.”
Specta System’s share price rose by 11.39% to 117.52p (as of 14:25 GMT).
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