Investors may want to keep an eye on the electronic article surveillance market. In 2021, the market was valued at about $1.04 billion, according to Straits Research. “The protection against inventory losses, shoplifting, and theft have been one of the major reasons for the adoption of EAS (electronic article surveillance) products, thus driving the market. Organized retail crime (ORC) costs the retail industry roughly USD $30 billion per year, according to the NRF (National Retail Federation). Shoplifting is also a key cause of shrinkage in the retail industry, according to the National Retail Security Survey (NRRS). All these instances have forced the retailers to implement a solution to prevent theft, thereby driving the demand for EAS.” All are strong catalysts for companies such as INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF), CCL Industries Inc. (TSX: CCL-B), Johnson Controls International (NYSE: JCI), Prosegur Compañía de Seguridad, S.A. (Madrid: PSG), and Avery Dennison Corp. (NYSE: AVY).
Look at INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF), For Example
INEO Tech Corp., the innovative developer and operator of the INEO Media Network, a digital advertising and analytics solution for retailers, today announced it has been granted a patent from the European Patent Office (“EPO”) for European Patent 3482377, entitled “COMBINATION MEDIA DISPLAY AND ELECTRONIC ARTICLE SURVEILLANCE PEDESTAL”. This patent prevents any other Electronic Article Surveillance (EAS) provider from selling an EAS system which contains a digital screen, leaving the INEO Welcoming System as the only system on the market which can combine advertising and loss prevention in one form factor.
INEO’s patented technology combines a traditional Electronic Article Surveillance (EAS) system with a digital media display in one integrated device. EAS systems are theft prevention devices which are typically found at the entrance or exit of a retail store and transmit a radio frequency (RF) signal which detects tags and labels on products. The combination of a media display and EAS system is a non-trivial and unique invention due to the complexity in designing and housing a RF security tag system in close proximity to a media display screen without degradation of the required RF signal. This patented technology drives INEO’s business model of integrating retail digital signage with retail media networks to generate SaaS (Software-as-a-Service) based revenue.
“Receiving this patent in Europe is a significant milestone for INEO as we continue to expand our reach into new global markets,” said Greg Watkin, Chairman and President of INEO. “We know larger industry players are very interested in our technology and this patent gives significant protection against any of our competitors coming out with similar technology in the European market. This patent along with our corresponding patents in Canada and the United States protects INEO from competition with the larger EAS companies as we go after their customer base.”
INEO filed its first patent on July 11, 2016, with the Canadian Intellectual Patent Office, resulting in INEO being granted Canadian patent 2,936,044, on January 15, 2018. At that time the Company also filed the subject matter under the Patent Cooperation Treaty (PCT), which has now led to the granting of corresponding claims in additional treaty countries. The United States Patent and Trademark Office granted patent 10,614,691 on April 7, 2020. The European Patent Organization granted this most recent patent after a substantive examination of the patent application. The term on the patent runs until to July 10, 2036. The Company has also recently filed two further patent applications for additional protection of its unique intellectual property and expects to be granted these patents in due course.
The European Patent Office’s mission is to grant European patents in accordance with the European Patent Convention. The EPO currently has 38-member states, comprising all the member states of the European Union plus other countries including the United Kingdom, Norway, Switzerland and Turkey.
Other related developments from around the markets include:
CCL Industries Inc., a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, will be releasing its 2022 Second Quarter Earnings Results on Wednesday, August 10, 2022 at 5:30 p.m. ET and will be holding a live webcast on Thursday, August 11, 2022 commencing at 7:30 a.m. ET to answer questions in connection with our press release. The press release and webcast presentation will be posted on the Company's website on Wednesday, August 10, 2022
Johnson Controls International has been recognized by independent analyst firm Frost & Sullivan with its Best Practices Customer Value Leadership Award for 2022. The assessment, covering chiller systems in buildings in North America, pitted Johnson Controls against global peers and roundly praised the company's technology and customer service as market leading. "Chiller systems can account for 40% of a building's total energy demand and they are one of the biggest targets for greenhouse gas reduction," said Vijay Sankaran, Chief Technology Officer, Johnson Controls. "By installing connected chillers, or adding connectivity to existing equipment, we can optimize how a system works - reducing failures and lowering a building's total energy draw to make serious inroads into its CO2e footprint. The chiller product is itself key but so is the connected digital solution; particularly the AI-enabled predictive and remote diagnostic abilities delivered by our OpenBlue platform."
Prosegur Compañía de Seguridad, S.A. reported sales of 2,002 million euros in the first six months of 2022. This represents an increase of 22.3% versus the same period of last year. The company expedited the favourable trend shown in the first quarter of the year with major improvements in all lines in both the accumulated first six months and in the quarter-on-quarter figures. The positive trend in sales was also accompanied by a more favourable macroeconomic environment and stable exchange rates. As regards the profitability of operations, its EBITA stood at 130 million euros, representing an improvement of 40.7%, while the EBITA margin grew to 6.5%.
Avery Dennison Corp. has declared a quarterly cash dividend of $0.75 per share. The dividend is payable on September 21, 2022, to shareholders of record on September 7, 2022.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. INEO Tech Corp. paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares INEO Tech Corp. Please click here for disclaimer.