Westvaco Enters Strategic Alliance With Checkpoint Systems
Press release from the issuing company
NEW YORK, NY, April 19, 2001 -- Westvaco Corporation (NYSE: W) has entered into a joint development, manufacturing and distribution alliance with Checkpoint Systems, Inc. (NYSE: CKP). The alliance establishes a framework for collaborative development and commercialization of next-generation radio frequency (RF) technology applications and will enable Westvaco to offer its customers cost-effective and versatile solutions to their source-tagging, brand-protection and supply-chain-management challenges.
Westvaco is the first company working to take advantage of Checkpoint System's latest generation of RF technologies, which are marketed under the name "Electronic Signatures." As a leading global packaging provider, Westvaco will use this advanced technology initially in Electronic Article Surveillance (EAS) source-tagging applications with customers in its targeted markets, which include media, pharmaceuticals, cosmetics and other consumer products.
"This alliance positions Westvaco to offer extremely cost-effective and flexible EAS source-tagging solutions for global anti-theft applications," says Todd H. Huffman, Manager of Customer Solutions for Westvaco's Consumer Packaging Group. "Our vast packaging expertise and innovative production methods will help lower the cost of these technologies, while significant Checkpoint advances, such as 'off-on-off' activatable functionality, will provide tremendous advantages to our customers at all points in their supply chains."
Westvaco's alliance with Checkpoint Systems also provides important synergies with its existing security capabilities. Westvaco has been a leader in EAS source tagging, especially for pharmaceutical packaging, since 1993. It has pioneered various award-winning solutions for applying source tags in high-speed converting and filling operations, as well as for validating EAS tag functionality.
In the future, Westvaco will also collaborate with Checkpoint to leverage its technology for use in high-value brand-protection and supply-chain-management applications.
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