on Applied DNA Sciences (NASDAQ:APDN )
Applied DNA Enters Into Multi-Year Agreement with Indus Group
Applied DNA Sciences, Inc. has signed a five-year agreement with Indus Group for the use of its CertainT® traceability platform. CertainT will help verify the authenticity and source of cotton used by Indus Group, which consumes around 450 million pounds of cotton annually. Financial terms were not disclosed.
The platform's implementation covers cotton-based apparel, footwear, and accessories from Indus facilities in Pakistan, Egypt, and Jordan. Indus will have exclusive rights in these countries. Applied DNA aims to stabilize revenue through year-round cotton tagging at Indus's spinners.
Dr. James A. Hayward, CEO of Applied DNA, highlighted the agreement's potential to ensure a steady revenue stream and compliance with the Uyghur Forced Labor Prevention Act. Indus CEO Abid Hafeez emphasized the innovation and competitive advantage the CertainT platform brings to their global supply chain.
R. E.
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