Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE
American: DSS), a multinational company operating businesses in
consumer packaging, brand protection technology, blockchain
security, direct marketing, healthcare, real estate, renewable
energy, and securitized digital assets, today announced its wholly
owned subsidiary, Premier Packaging Corporation (“Premier”), will
move its operations into a new 105,000 square-foot facility to meet
growing customer demand. Premier expects to be operational in the
new space, located in the Town of Henrietta, NY, approximately 15
miles from its current operations in Victor, NY, by the end of
2021.
For over 25 years, Premier has been a market leader in providing
solutions for paperboard packaging from heavy mailing envelops and
photo sleeves, to sophisticated custom folding cartons and complex
3-dimensional direct mail solutions. Premier’s innovative designs
deliver functionality, marketability, sustainability, and
anti-counterfeiting technology.
Since taking over in July 2019, the DSS management team has
accelerated the transformation of Premier’s operations, investing
in new manufacturing equipment, people, and processes to increase
its capacity, improve quality and delivery, and ensure it has the
horsepower it needs to support its growing customer base and their
evolving demands.
“Premier’s continued success is the result of our team’s
dedication and commitment to quality and customer care. Leading
with this customer-centric approach has paved the way for expansion
through new business opportunities and continues to strengthen our
organization’s culture. We look forward to the next phase of
expanding and investing in our products, service, and team,” said
Premier President and DSS Chief Operating Officer, Jason Grady.
“We are grateful to Empire State Development (“ESD”), Greater
Rochester Enterprise, and New York Power Authority for providing
Premier with an opportunity to advance our business. As a
multinational company we had several options when considering a new
location, but with the help of ESD and New York State, we are able
to continue to call this area home. The Upstate NY and Finger Lakes
region is an ideal place for us to operate our business, service
our customer base, and further expand our offerings,” continued
Grady.
ESD is assisting Premier by providing up to $700,000 in
Excelsior Tax Credits in exchange for job creation commitments,
with additional assistance commitments to support continued growth
from Monroe County and Greater Rochester Enterprise.
Todd Macko, interim-CFO of DSS, stated, “This is a key move to
support the continued growth and market leadership of Premier. The
added benefits of tax credits and other incentives make this an
economically advantaged deal as well.”
“We continue to build on our momentum amidst growing customer
demand,” added Bruce Stratton, VP of Operations at Premier. “We
will be able to increase staffing by more than 50% when we begin
operations at the new facility later this year. With greater access
to major interstates nearby and a closer proximity to the strong
Rochester workforce, the new manufacturing operation is well suited
to support our aggressive growth plans.”
About Premier Packaging CorporationFor over 25
years Premier has been a market leader in providing innovative and
secure solutions for printing and packaging. Premier is
the Packaging, Security and Commercial
Printing division of DSS. With operations based
in Victor, NY (moving to Henrietta, NY) and nationwide
distribution, Premier services a variety of both nationally and
regionally based customers. Premier’s client list includes
customers in the direct marketing, medical device, consumer
goods, photo marketing and food industries. Premier
differentiates itself by being a full service, end-to-end solution
provider that is large enough to be a complete resource to its
largest clients while still remaining nimble enough to react to
ever changing market and customer demands when necessary.
For more information,
visit https://www.dsssecure.com/packaging/index.html.
About Document Security Systems, Inc.
DSS is a multinational company operating businesses focused on
brand protection technology, blockchain security, direct marketing,
healthcare, real estate, and securitized digital assets. Its
business model is based on a distribution sharing system in which
shareholders will receive shares in its subsidiaries as DSS
strategically spins them out into IPOs. Its historic business
revolves around counterfeit deterrent and authentication
technologies, smart packaging, and consumer product engagement. DSS
is led by its Chairman and largest shareholder, Mr. Fai Chan, a
highly successful global business veteran of more than 40 years
specializing in corporate transformation while managing risk. He
has successfully restructured more than 35 corporations with a
combined value of $25 billion.
For more information on DSS
visit http://www.dsssecure.com.Investor
Contact:Dave Gentry, CEORedChip Companies
Inc.407-491-4498Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements include, but are not limited to,
statements related to the Company's intended use of proceeds and
other statements that are not historical facts. Forward-looking
statements are based on management's current expectations and are
subject to risks and uncertainties that may cause actual results or
events to differ materially from those projected. These risks and
uncertainties, many of which are beyond our control, include: risks
relating to our growth strategy; our ability to obtain, perform
under and maintain financing and strategic agreements and
relationships; risks relating to the results of development
activities; our ability to attract, integrate and retain key
personnel; our need for substantial additional funds; patent and
intellectual property matters; competition; as well as other risks
described in the section entitled "Risk Factors" in the prospectus
and in our other filings with the SEC, including, without
limitation, our reports on Forms 8-K and 10-Q, all of which can be
obtained on the SEC website at www.sec.gov. Readers are cautioned
not to place undue reliance on the forward-looking statements,
which speak only as of the date on which they are made and reflect
management's current estimates, projections, expectations, and
beliefs. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations or any changes in events, conditions, or circumstances
on which any such statement is based, except as required by
law.
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