YPB and Affyrmx joint venture win first contract

A just-signed joint venture between YPB and Affyrmx has won its first contract, supplying security document technology for the Mexican state of Jalisco.

Australia-listed anti-counterfeiting specialist YPB entered into the JV with US security company Affyrmx earlier this month to tap into the market for protecting government documents such as visas, vital record documents and ID cards, as well as currency in Latin America.

Under the terms of the JV, Affyrmx is responsible for customer/project sourcing and customer liaison, with YPB responsible for materials sourcing, production and logistics. The two parties will manage projects jointly to ensure the integrity of the supply chain and delivery of a seamless solution to clients. 

The new order is an exclusive supply deal with the Mexican state with a duration of six years and - according to YPB chief executive John Houston - "is the first of what we believe will be a growing and consistent revenue stream."

YPB's position in document security stems from its acquisition of IPP Group last year, and the combined group supplied technology to "at least 20m passports in two significant western countries."