For Immediate Release     January 2, 2007     

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Parelec Acquires Precision Systems

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Parelec expands its RFID platforms with acquisition of real time location system provider

Parelec Inc. (Rocky Hill, NJ, USA), a leading manufacturer of conductive inks for RFID antenna and other direct printed circuits, has acquired Precision Systems (Raanana, Israel), a top supplier of real time location systems positioning the new merged company as one of the leading Total RFID solution providers in the market today. “This represents a significant milestone for Parelec.  Our solid grounding in mid-range, passive RFID tag technology can now be coupled with Precision Systems’ expertise in active RFID and real time location systems to help companies take giant steps toward tracking products from item level to end use.” says Geva Barash, CEO of Parelec. “Our focus is on the total supply chain visability, information management, asset tracking and logistics.  The addition of Precision Systems brings us a lot closer to that goal.” 

     “We couldn’t ask for a better partner in RFID technology than Parelec,” notes Michael Braiman, Founder and CEO of Precision Systems. “Their technology is well positioned in printing passive tags for tracking product from box and pallet to item level to box and pallet. Combined with Precision iLocate’s sub-meter location accuracy and bi-directional tag communication features, the new Parelec will be able to set forth an end-to-end RFID solution for its customers.”. Our active location products represent a very complementary technology fit.” 

Mr. Barash added “Parelec will continue to work with our current customers and integrators better enabling low cost, reliable and unique conductive printing solutions.” Barash also noted”we will continue to invest efforts and our energies in building our current customers and industry partners through our Certified Printer Program to deliver a winning solution to the market.  Precision Systems introduces additional value we can offer to customers and integrators in the marketplace.”

     Precision Systems develops and manufactured automated, two-way communicating real-time location systems and tags that provide a rapid return on investment enabling companies to introduce new standards of efficiency into their operations. Applications include critical-assets tracking, healthcare, security and research. Precision Systems is managed by a team of professionals from the RFID industry, who aim to lead the emerging, real-time critical-assets tracking market.

     Parelec develops and market conductive inks and related materials for the manufacture of electronic circuits and RFID antenna.  The company’s core product lines, Parmod^® inks and pastes and Modflex^™ films, provide cost, speed, and functional improvements over traditional circuit production materials, which benefit both producers and users of electronic circuits. Parelec’s products are used to provide low cost RFID antenna, specialty, and flexible circuits, intelligent packaging, heaters/defrosters for plastic windows, and in semiconductor packaging for a wide variety of electronics and consumer products.

     For more information, contact: Parelec, Inc., 5 Crescent Avenue, Building C, P.O. Box 236, Rocky Hill, New Jersey 08553-0236, 609.279.007, fax: 609.252.1288, www.parelec.com  or Geva Barash at gbarash@parelec.com