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April 7, 2011 /PRNewswire/ -- Gaming Partners International Corporation (NASDAQ: GPIC) ("GPI" or the "Company") announced today that its French subsidiary Gaming Partners International SAS has completed the purchase of certain assets of OMC Sarl and its subsidiary OMC Industries (OMC), a private French-based manufacturer of high-quality plastic injection molds. This transaction, although financially immaterial, is part of the Company's previously announced acquisition strategy to use its strong cash position to acquire companies, products or technologies that enable it to diversify and grow its product and service offerings.
By giving the Company the ability to manufacture the high-precision molds required to make gaming chips, this acquisition provides GPI with greater control over its entire chip manufacturing process while maintaining the highest internal standards of gaming currency manufacturing security. Additionally, the purchase enhances the Company's existing delivery timelines and provides GPI's worldwide casino customers with a greater range of custom chip design solutions. Finally, the acquisition enables the Company to broaden its manufacturing capabilities into other industries by enabling GPI to support and grow OMC's existing mold design and manufacturing business.
"We are excited to purchase OMC's mold manufacturing capabilities, as their reputation for producing high-quality, secure products for a wide range of industries is unmatched," commented
Gregory Gronau, GPI's President and Chief Executive Officer. "GPI has worked directly with OMC for over 20 years, and having direct access to the equipment necessary to produce high-precision molds will enhance our existing chip production process."
Gronau continued: "Finally, this transaction is an important next step in the diversification of our internal product development and manufacturing capabilities. When combined with our recent acquisition and licensing agreement related to RFID patents and technologies, we are extending our direct control over the production of our core currency products."