TagMaster regains momentum and revenue growth in China
Stockholm, Sweden, 13 October, 2009 - TagMaster, the leading producer of advanced RFID solutions, has seen an increase in volume of new business in China. The new go-to-market strategy in China, including the new distribution contract with Shanghai Richor Commercial Co., Ltd, (Richor) announced on 20th of March, 2009, has made an immediate positive impact on revenue. Despite the financial crisis this year, TagMaster experiences revenue growth in both Access and Transportation compared to year 2008. Cytel, who is TagMaster’s key channel partner in the Parking segment, has established itself as the premium Parking Solutions supplier. Richor has, after signing of new distributor agreement, succeeded in further strengthening its system integrator network in China. The network includes partners who are focused on Transportation related business as well as partners supporting the Access business. With a number of Chinese metro projects now purchasing TagMaster equipment locally in China via Richor, the level of new business has grown significantly over the year. “Our partners provide strong sales capabilities in both Access and Transportation. In addition, Richor enables us to be a trustworthy local partner in the Transportation industry. In China, global manufacturers are often required to source products locally. TagMaster has the necessary local distribution capabilities and 2009 is expected to become a good, if not the best year, for TagMaster in China. By implementing the new go-to-market strategy, TagMaster has established a strong platform for future growth.”, says Christopher Grahn, President & CEO of TagMaster AB.