Stahl signs Memorandum of Understanding with Applied DNA Sciences to bring molecular tagging to manufacturing supply chains
Waalwijk, Netherlands, April 12, 2019 – Stahl announced the signing of a non-binding Memorandum of Understanding (MOU) with Applied DNA Sciences Inc. (NASDAQ: APDN), a leader in polymerase chain reaction (PCR)-based DNA manufacturing for product authenticity and traceability solutions. The MOU is expected to be followed by a definitive agreement.
Under the terms of the MOU, the parties will continue the evaluation of molecular tagging of process chemicals and coatings utilizing Stahl’s product offerings as a point of entry into supply chains for Applied DNA's molecular tags. Stahl will provide technical expertise to the company relating to the process chemicals used in leather manufacturing.
Michael Costello, Director of Sustainability at Stahl, said: “We see a bright future for molecular tagging. Leather is just one of many industries which could benefit by having the capability to improve traceability. As a process chemical manufacturer, we are a logical point of entry into a whole range of supply chains for Applied DNA’s molecular tags.”
Dr. James Hayward, President and CEO of Applied DNA, said, “Stahl’s global sales and support footprint, coupled with broad access to its customer base that spans global brands and their supply chains, makes it an ideal partner through which to expand, implement and support our CertainT® authentication and traceability platform. We believe this partnership should accelerate our entry into the leather market. We look forward to a long and productive relationship with Stahl.”