Matica strengthens its team

04/09/2008 Robert Tyerman

Card issuing and personalisation equipment company Matica has appointed US sector luminary Veraje Anjargolian to the board.

Dr Anjargolian, a former divisional general manager at Nasdaq-quoted bar code specialist Zebra Technologies, has become a non-executive director of Matica, which designs and manufactures machines for issuing and personalising ID cards, credit, debit and smart cards, SIM cards, membership, loyalty and a string of other card types.

The AIM-quoted company’s chief executive officer, Sandro Camilleri, recently announced a three-way joint distribution venture in the USA with CanCard, Data Technology Systems and IndentiSys Inc. and will value Anjargolian’s intimate knowledge of the US market.

Matica, which lost £1.1 million last year on £10.4 million turnover, and its US partners are committed to paying £750,000 over three years to fund this venture, which is called Matica Americas. Floated at £1 lastyear, Matica shares now trade at just 26p, valuing the company at £2.62 million.

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