BRADENTON, Fla. & TOKYO - GE Security, Inc. and Mitsubishi Corporation announced that Mitsubishi Corporation will exclusively distribute GE Security's CommerceGuard container cargo solution in Japan. Mitsubishi Corporation will market, distribute and support CommerceGuard cargo security solutions, including hardware products and arming codes, to Japanese terminal operators, ports, exporters, and shipping companies. The agreement between GE Security and Mitsubishi Corporation also contemplates the partnership may expand from Japan to selected other geographies in Asia.
With this agreement, Mitsubishi Corporation becomes a shareholder in GE CommerceGuard AB, a technology company responsible for the licensing and commercialization of CommerceGuard technologies, solutions, and related products. GE CommerceGuard AB was the former All Set Marine Security AB and renamed when GE Security recently acquired all shares of All Set.
"This is an important relationship that will significantly increase the commercial security of many of the 15-plus million ocean-going containers, and at the same time help protect and facilitate the global economy," said Randy Koch, General Manager of GE Security's Cargo Security unit. "GE CommerceGuard is proven technology, and we are pleased Mitsubishi has agreed to help bring this technology to the Asian market."
"After studying the cargo container security field for over three years, Mitsubishi Corporation concluded that CommerceGuard is the only solution that meets the needs of today's worldwide shipping environment," said Takashi Miyazaki, Unit Manager of Machinery New Business Initiative Unit, Mitsubishi Corporation. "We are proud to be part of the GE CommerceGuard team and to help with CommerceGuard's global deployment."
Under the terms of the agreement, GE Security will be the majority owner of the GE CommerceGuard AB company with Mitsubishi Corporation taking the lead for marketing and distributing CommerceGuard in Japan. The agreement is currently in effect.
"This is the true internationalization of GE CommerceGuard," said Koch. "Our goal is to help top companies immediately take advantage of the security standards agreed to by the 166 member states of the World Customs Organization, and help provide a path to what is envisioned as a 'global green lane' for their shipments."