(MENAFN- ABN Newswire) Sydney Mar 23 2016 AEST (ABN Newswire) - YPB Group Limited (ASX:YPB) has received an order for 700000 vital record documents for the State of Guanajuato in Mexico the second order resulting from the recently announced six year joint venture (JV) with Affyrmx LLC.
Terms of the order are commercial in confidence however as previously announced typically such vital records documents have an order value (to the Government) of between $US0.10 to $US0.30 per document. These orders provide a strong recurring revenue stream as once the initial order is secured there is an annual usage requirement.
The State of Guanajuato is one of 31 Federated States in Mexico with a population of approximately 5.5 million people. Each state within Mexico sources its own vital records documents to record such events as births deaths marriages etc. With a population of approximately 130 million Mexico has an estimated annual usage of vital records documents of between 50 and 60 million documents. The JV's successes in Jalisco and now Guanajuato see it well placed to capture a significant portion of the market.
Affyrmx Group based in Atlanta Georgia was founded in 2011 and is a trusted security provider and adviser primarily to governments and central banks in Latin America. YPB's JV is currently targeting revenue streams from the protection of government documents including vital records visas tax stamps passports ID cards emission certificates gaming tickets and others.
YPB Executive Chairman John Houston said: "We are delighted to secure the second contract in the Affyrmx JV and are proud to have been selected to provide this first vital record document to the target government. We are encouraged by the early contract wins in Jalisco and Guanajuato. YPB has identified the government sector as a major opportunity due to its existing uptake of anticounterfeit measures and YPB's pedigree in providing solutions in the government sector."
About YPB Group Ltd
YPB Group Ltd (ASX:YPB) is a pioneer in advanced anti-counterfeit and product authentication solutions. Listed on the Australian Securities Exchange we are expanding our global footprint with an established presence in China USA Australia and South East Asia.
YPB's patented anti-counterfeit technology combined with its security packaging solutions consulting and forensic services enables businesses to protect their high value brands from the risks of counterfeit and product diversion.
YPB's full range of services will give businesses the ability to cost effectively protect their brands easily detect counterfeits and give them the opportunity to connect with their consumers about the authenticity of their brand.
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