STONY BROOK, N.Y — January 28, 2019 — Applied DNA Sciences Inc. today announced the signing of a non-binding Memorandum of Understanding (MOU) with Taiwan-based Tex-Ray Industrial Co. Ltd. (Tex-Ray), a pioneer in performance fabric and smart clothing for modern active lifestyles. The MOU is expected to be followed by a definitive agreement.
Under the terms of the MOU, Tex-Ray and Applied DNA will create a Center of Excellence in Taiwan, the industry-acknowledged hub for textiles innovation to: integrate Applied DNA’s CertainT tag, test and track authentication platform into new product development of yarns, finishes and fabrics; for designing streamlined supply chain processes to reduce time-to-market for Applied DNA products and services; and, to grow capabilities in marketing, sales and support for servicing global customers. Applied DNA’s CertainT molecular authentication platform for forensic authenticity and traceability delivers brand differentiation and protection of goods whose value chains span large commercial ecosystems and geographies. Unique in its ability to provide identity and traceability embedded in goods themselves, CertainT is a natural fit with the technology innovations that comprise Tex-Ray’s product portfolio.
Tex-Ray’s growth has mirrored the development of Taiwan’s textiles industry that today is the world’s largest functional fabric production base accounting for approximately 50% of the global output value of performance fabrics.1 Founded in 1978, Tex-Ray has found success in managing global textile supply chains and today counts a significant numbers of the world’s leading brands as customers, and operates in 9 countries within the continents of Asia, Africa, and North America. Its global footprint offers the advantage of deep domain knowledge and staffing to implement CertainT from design through development to delivery across its customer base.
Dr. James A. Hayward, president and CEO of Applied DNA, stated: “As a technology innovator and manufacturer of performance fabrics, Tex-Ray gives us entrée into established supply chains in service of large global brands. We believe Tex-Ray’s customers — manufacturers, retailers and brands — will benefit from our CertainT platform as a means of supporting claims in performance, sustainability and product origin. Our Tex-Ray alliance, together with our other recently announced textile strategic alliances, demonstrates continued execution on our strategy to engage key participants along multiple points in the global textile value chain to more broadly drive adoption of our authentication technology platform.”
Ray Lin, Chairman of Tex-Ray, said “Our company’s mission is to be at the forefront of the smartest clothing and highest performance fabrics. Partnering with Applied DNA furthers our mission, enabling us to use the most reliable authentication solutions with the broadest applications.”
Wayne Buchen, vice president of Strategic Sales at Textiles at Applied DNA Sciences, said, “The Tex-Ray strategic alliance opens a significant opportunity for Applied DNA authentication technologies to enhance some of the most advanced fabrics and clothing on the market. We are deeply impressed by Tex-Ray’s commitment to best practices and best textiles and look forward to a collaboration that we believe will further transform traceability, transparency and trust in the textile industry.”
Posted January 29, 2019
Source: Applied DNA Sciences Inc.