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VerifyMe, Inc., a pioneer in patented physical, cyber and, biometric technologies that prevent identity theft, counterfeiting and fraud, and Boutwell, Owens & Co., Inc., one of America's most prestigious printing and packaging suppliers, announced today that they will leverage VerifyMe's patented anti-counterfeiting pigment technology and Boutwell's conventional offset presses, coating units and their sophisticated digital printing capabilities. Boutwell, Owens & Co. will market these brand protection and consumer safety features to customers across multiple industries including pharmaceutical, consumer goods and auto parts under the name OwenGuard™.
According to the International Chamber of Commerce, the global cost of counterfeit goods reached more than $1.7 trillion in 2015. As a result brand owners are taking more action to secure the legitimacy of their product and many are looking to anti-counterfeit technologies that can be incorporated overtly and/or covertly. The partnership between Boutwell and VerifyMe elevates protection to a superior level at a minimal cost, safeguarding profits and brand value.
"With OwenGuard, we are offering an uncompromising layer of protection for our customers' products and brands, as well as for their end users," said Boutwell, Owens & Co. Inc., Chief Executive Officer, Ward McLaughlin. "Using VerifyMe's pigments with our conventional offset presses, coating units and digital printing process offers authentication down to the level of each individual product item. We are committed to making this unique technology available to all our customers," he added.
VerifyMe's patented anti-counterfeiting pigment technology can be seamlessly integrated into the conventional offset presses, coating units and digital printing process to produce visible and invisible marks, which enables two separate types and levels of authentication. First, consumers are able to see the patented ink without any specialized equipment. Second, manufactures can use customized devices to view characteristics of non-visible pigments to support their supply and distribution chains.
Paul Donfried, president and Chief Executive Officer of VerifyMe, Inc., added, "Individual package authentication is increasingly important particularly in the pharmaceutical and medical device sectors, in which products are often customized for each individual user and the risk of counterfeiting in the modern world has increased. OwenGuard affords consumers and manufacturers confidence, security and protection. Companies can be assured that their customers can easily verify they've received the genuine product."
