BAY HARBOR, FL--(Marketwire - January 24, 2011) - SmartMetric, Inc. (
C. Hendrick, SmartMetric President & CEO, said today that the opening of offices in Buenos Aires is the first step in establishing the company's Global Manufacturing and Distribution Center for its advanced in-card biometric fingerprint scanning Smart Cards.
Manufacturing the cards in Argentina will provide SmartMetric, Inc. with the capacity to cost effectively enter Latin American emerging markets with its advanced fingerprint-activated Smart Card, so said the company's President & CEO, C. Hendrick, today. It was further stated that the fast developing countries such as Brazil are far more advanced than the United States in adopting advanced technology to safeguard credit and banking card users from fraud. Brazilian banks for instance have issued over 100 million smart cards to their banking customers.
The entrance of SmartMetric into markets such as Brazil will be enhanced by the trade treaty arrangements that Argentina enjoys with most of Latin America and major markets within Europe. For example, SmartMetric will be able to ship to Brazil from Argentina without any import taxation; if it shipped its product from the United States to Brazil, it would be charged by the Brazilian Government a 100% import tax according to the company's President, C. Hendrick.
Argentina has a low cost workforce that is highly skilled and well educated. Although it is at the other end of the world, and some would say it would be counter intuitive to use Argentina as a high tech manufacturing base, SmartMetric will be able to enjoy low cost manufacturing in a safe environment and with access to highly skilled and educated workers, while also enjoying world class, low cost of exportation into some of the largest markets for its technology around the World.
SmartMetric, Inc.'s President said that the opening of offices in Buenos Aires is an exciting step in bringing online the company's mass production manufacturing plant that is being designed to produce a minimum of 4 million of its fingerprint Biometric Cards a week.
About SmartMetric, Inc.
SmartMetric, Inc. has developed a portable biometric identity and transaction card capable of storing a wide variety of personal information while protecting you against identity theft and fraud. It is one of the most advanced portable identity authentication solutions in the world today. The card contains a biometric fingerprint scanner and reader which only you can unlock and is smaller and thinner than a credit card. The SmartMetric card is ideal for a wide range of consumers, including Personal, Government and Corporate.
For more information please visit us at www.smartmetric.com or contact the company President at, email: ceo@smartmetric.com
Safe Harbor Statement: Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.
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415.524.8500