PSI Antonson AB, a subsidiary of PSI Group ASA, has entered into a distribution agreement with Vensafe AS regarding sales and service of Vensafe store solutions starting 1 January 2012.
PSI Antonsen AB, part of PSI's business area Retail Solutions, is Sweden's leading supplier of retail technology.
The retail industry has a growing need to reduce shrinkage. Vensafe solutions meet these needs by reducing both internal and external shrinkage on high value products, while turnover is maintained or increased through touch screens and product cards. As CashGuard has taken care of in store cash protections, retailers risk has moved to high-value products. With branded high-value products, most retailers experience that they are more vulnerable to criminals and organized criminals attacking high-value products. Vensafe is also approved for the sale of tobacco and cigarettes in the increasingly stricter regulated markets.
"This will provide a yearly organic sales contribution of approximately NOK 25-30 million for Retail Solutions in Sweden. The Vensafe concept satisfies Retail Solutions requirements for new retail technology solutions; including efficient and complex POS integration, a significant aftermarket size and a considerable growing market potential, "says the CEO of PSI Group, Jørgen Waaler." PSI Antonsen's existing nationwide sales and service network will be able to handle Vensafe representation within existing infrastructure," says Waaler.
For further information, please contact:
Jørgen Waaler, CEO of PSI Group ASA, Mobile: +47 9059 0010
Trond Kongrød, CEO Vensafe AS, Mobile: +47 4000 3010
About PSI Group
PSI Group is the leading global provider of closed and secure cash handling solutions wherever money moves and a leading local provider of retail technology in selected geographical markets.
PSI Group is head quartered at Rælingen (Norway) and has about 300 employees in Scandinavia and Europe. The company is listed on the Oslo Stock Exchange and Nasdaq OMX in Stockholm.
For more information please visit
www.psigroup.no
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.