RANCHO DOMINGUEZ, Calif., April 19 -SISCO, the second largest vendor of branded consumer safes in the North America, recently announced that it has formed a brand licensing partnership with Honeywell in a move to strengthen their position as technology and innovation leader in the home and office safe product category.
In 1975 SISCO began selling security safes under their own Protector(R) brand name. In 1997, SISCO licensed the Brink's name and achieved impressive growth by offering the same high quality products with a well-known brand name. The Brink's brand of safes quickly came to be recognized as a leader in quality and innovation. The switch to Honeywell gives SISCO even stronger consumer recognition worldwide as well as a number of other significant benefits that are better suited to the company's business model.
According to SISCO President and COO, Bob Mosbaugh, "We had a great run with Brink's and have certainly come to appreciate the value of a high visibility brand name. The Brink's name gave us strong consumer recognition, but that is really where it stopped. Before we pioneered the Brink's name in retail, it was primarily a service brand. Our new partnership with Honeywell is an entirely different dynamic. In our search for a new brand partner, there were really three general competencies we were seeking to improve upon; global reach, retail product experience and security industry scope. Honeywell quickly emerged as an ideal solution, providing all the additional benefits we desired."
Honeywell is a leader in security technology in more than 80 countries. As one of the world's largest suppliers of professional electronic security equipment, Honeywell products protect millions of customers around the world everyday. There are even Honeywell consumer product innovations in the Smithsonian. Additionally, Honeywell has extensive relationships within many of the new sales and distribution channels that SISCO has targeted in their growth strategies.
ABOUT SISCO -- SISCO, headquartered in Rancho Dominguez, California, is the second largest vendor of branded consumer safes in the North America. SISCO's business includes its core Honeywell branded Home & Office Safes, Cash & Security Boxes and Paper Shredder lines, as well as certain other Home Security products. SISCO currently sells its branded products in the United States, Mexico, Canada, and the European Community and is currently extending its distribution basis worldwide. SISCO sells its products into most retail distribution channels including Discount, Hardware, Grocery, Drug, Office Superstore, Membership Wholesale Club and Specialty which includes E-trade, Catalog and TV.
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.
