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WallStreetIdeas.com: GVI Security Solutions Samsung Electronics
Expects US $1 Billion in Security Sales in 3 Years And Further
Strengthen Their Strategic Partnership
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:08072008
NEW YORK -- GVI Security Solutions, Inc. (OTC BB: GVSS) reported today
that their strategic partner in video security, Samsung Electronics,
publicly announced a plan to grow their global security sales to over
US $1 billion within the next three years. In an indication of the
extent to which Samsung considers GVI Security, their strategic partner
in North, South and Central America, an integral part of Samsung's
global security business, Samsung highlighted the recent strategic
partnership agreement between GVI and Verint that was announced by GVI
in May as a significant achievement for Samsung Electronics.
Full Details follow:
GVI Security Solutions Strategic Partner Samsung Electronics Announces
Plans to Rapidly Grow Worldwide Security Business to over US $1 Billion
in Three Years
CARROLLTON, Texas - July 8, 2008 - 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.
Contact:
GVI Security Solutions Esra Pope 972-245-7353
For more information on GVI:
http://wallstreetideas.com/wsi/wsinews.php?site=hss&id=99&news=fc and
http://www.gviss.com
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