Brisbane, Queensland, Australia -- (SBWIRE) -- 12/13/2005 -- SpartaMatrix International announced the signing of a second agribusiness contract today with Malaysian fertilizer company FYB Organic. The contract amount was not disclosed.
SpartaMatrix will provide 1,700,000 RFID (Radio Frequency Identification) tracing chips to FYB Organic. The chips will allow FYB Organic products to be tracked for quality assurance and for anti-theft of the company’s costly organic products. Exactly how the chips will be placed within the product will not be made public. It is known that the chips can be either active or inactive and easily traced by SpartaMatrix.
With the signing of this second Agribusiness contract, the company announced the formation of a new company called “AgriMatrix”. The new company will be based in Australia with additional offices planned in Kansas (USA), Europe, Russia, and South America. “This is exciting for us (SpartaMatrix) as we will be able to pull full time resources into the agriculture market place. With our tagging and tracking systems, we will provide security of product, faster delivery of products and give consumers the assurance that the agricultural products they purchase have been under scrutiny from start to finish,” said Dr. Philip H. Wainwright, Chairman of SpartaMatrix International. The tagging system for agricultural products can be tracked through different means, including GPS satellite tracking.
AgriMatrix will begin full operations in the first quarter of 2006.