CARROLLTON, Texas - (Business Wire) GVI Security Solutions, Inc. (OTCBB: GVSS), a leading provider of video security solutions featuring the complete Samsung Electronics line of products reported a major announcement by their strategic partner, Samsung Electronics of their plan to rapidly expand sales over the next three years.
In comments at the Security World Expo 2008, held in Seoul, South Korea on June 25th, Park, Jong-Woo, President of Digital Media at Samsung Electronics, said, “We will further enhance security business among promising solution business to nurture business with more than 1 trillion Won in three years.” (1 trillion South Korea Won = US $1 billion).
The plan goes beyond that previously announced by GVI and Samsung late last year targeting a doubling of sales in the Americas. As announced, Samsung is providing $1.5 million in marketing funding to expand GVI sales and marketing programs.
At the Security World Expo, Samsung also announced a massive new video security products launch and highlighted the recent strategic partnership agreement between GVI Samsung and Verint that was announced by GVI in May.
"We have been having extensive discussions with Samsung senior management for some time regarding the extremely attractive opportunities for growth in the video security business," said GVI Chairman and CEO Steven Walin. "It is exciting to see the head of their enormous digital media business confirm the conversations we have had with them in a major announcement as an official Samsung corporate objective.”
Mr. Walin added, “Samsung’s announcement of our agreement with Verint at the Security World Expo as a major achievement for Samsung also highlights the extent to which Samsung management views GVI as an integral part of the Samsung Electronics security business.”
About GVI Security Solutions, Inc.
GVI Security Solutions Inc. is a leading provider of video surveillance security solutions to the homeland security, institutional and commercial market segments.
Forward-Looking Statements:
Some of the statements made by GVI Security Solutions, Inc. in this press release are forward-looking in nature. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. GVI Security Solutions, Inc. believes that its primary risk factors include, but are not limited to: reliance on primary supplier; concentration of customers; credit limits imposed by primary supplier; effective integration of recently acquired operations and personnel; expansion risks; effective internal processes and systems; the ability to attract and retain high quality employees; changes in the overall economy; rapid change in technology; the number and size of competitors in its markets; outstanding indebtedness; control of the Company by principal stockholders; law and regulatory policy; the mix of products and services offered in the company's target markets; and other factors detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2007 currently on file, as well as the risk that projected business opportunities will fail to materialize or will be delayed.
GVI Security Solutions
Esra Pope, 972-245-7353
