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TimeLox Reports Bull Market Affecting
Brass Production, Pricing
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International demand for TimeLox’ growing portfolio of new electronic-locking solutions is increasing. Likewise the subsequent cost of raw metal components used to make brass hardware also is steadily increasing. Therefore TimeLox announces an 8 percent price increase effective Jan 1, 2007.
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NORWAY — DECEMBER 11, 2006 — Bullish on security, TimeLox, a leading developer and manufacturer of sophisticated, integrated and elegant electronic-locking systems for the international hotel industry, has remained focused on growing its portfolio of security solutions despite ongoing price increases in brass metal components. Today the company reports a modest 8 percent price increase will go into effect beginning January 1, 2007 for its entire line of electronic locks.

“With base metal component prices for brass nearly tripling over the past two years, pricing at long last has become an issue,” said Lars Wittemann, TimeLox director of manufacturing. “For the past two years we have kept our rates constant and competitive while developing new solutions that combine the power of our integrated technologies with the latest hardware designs and material finishes. While we succeeded in keeping the materials’ costs down to maintain affordable end-user pricing, we can no longer continue to absorb the ongoing price increase.

“Based on our product quality and enduring commitment to providing the hospitality industry with superior security solutions backed by exceptional service and support, we find it necessary to implement the modest increase,” he said. 

Brass (represented on the chart as “Blended”) is an alloy of 65 percent copper and 35 percent zinc. According to the London Metal Exchange, the world center for nonferrous metal trading, the current rate for zinc is $4,109.50 per ton and copper has reached an all-time-high at $6,670 per ton.
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Brass Base
Metals Price Increase Percentage
Blended = 65% Copper 35% Zinc Combined
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“While the market’s pricing volatility for raw metals has changed our pricing plans, our commitment to producing electronic locks manufactured with brass has not been altered,” Wittemann said. “With customer service and security our No. 1 priority, TimeLox will not use less costly or inferior metals that in the end may put hotels and their guests at risk”. 

“The bottom line is that TimeLox will continue to provide the best security solutions on the market at the best possible prices for high-end resorts, gaming properties, timeshares and condo-hotels,” he said. 

About TimeLox 
TimeLox is one of the leading suppliers of electronic hotel-locking systems worldwide, with a selection of advanced, widely compatible solutions that are among the simplest to install and run. Specializing in meeting the unique security needs of gaming properties and other large resorts, TimeLox has become an industry leader in smart card and on-line technology, as well as the integration of locking systems with other systems, such as Property Management Systems (PMS), Point-of-Sales Systems (POS) and Player Tracking Systems. For more information on TimeLox, visit www.TimeLox.com.


 
Contact:

Kirsten Pflomm
Communications Manager
Global Technologies Division
TimeLox
Tel: (401) 248-2532 
KPflomm@aagtd.com

Riise Walker
Marketing Supervisor
TimeLox
Tel: (972) 692-3167
usa@timelox.com
 

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Also See: Signature Unlocks Canadian Market with Installations in Two Luxury Properties; Alberta and British Columbia hotels choose new Signature by VingCard electronic-locking system to enhance decor, ensure security / October 2006
NEW Signature by VingCard Door Locks Selected by Kauai Beach Hotel and Resort / May 2006
Rezidor SAS Names VingCard Elsafe a Preferred Security Partner for Providing Electronic Locks and In-Room Safes / April 2006
Casinos, Resorts, Timeshares and Condo Hotels Tap TimeLox for Online Security / March 2006
ASSA ABLOY Hospitality, Inc. Strengthens Global Security Positioning With Marc Freundlich Leading the Way / February 2006
Signature by VingCard Offers Attractive Security Options, Hoteliers Say; California-based Tarsadia Hotels is first to ‘design their security’ with new Signature Series electronic-locking solution / December 2005
VingCard ‘Signature’ and Elsafe Chosen Preferred Security Solutions for Courtyard by Marriott in Europe / December 2005
VingCard Elsafe Providing Emergency Support to Hotels Hit By Hurricanes Katrina and Rita / September 2005
Pascal Metivier Appointed President of Assa Abloy Hospitality for Europe, Middle East, Africa and Latin America / June 2005
Elsafe Providing a ‘Safe’ Environment for Business Travelers and HSIA Users / June 2005
When Security Counts . . . Count On VingCard to Upgrade Your Electronic-Locking System / June 2005
Elsafe Selected by Accor as its Sole Approved Provider of In-Room Safes / April 2005
Elsafe Asks: Are Your In-Room Safes REALLY Safe? / November 2004
Ken Brown Joins VingCard Elsafe As SVP Marketing and Sales, North America / November 2004
Four Cornerstones Ensure Sound Principles and Fair Business Practices For ASSA ABLOY Hospitality Brands (Elsafe, Timelox, VingCard and INHOVA) / May 2003
Elsafe Renews Global Agreement with Starwood Hotels & Resorts to Supply In-Room Safes / March 2003
Crowne Plaza Times Square Manhattan Upgrades to VingCard Locking System to Enhance Guest Security and Convenience / March 2003
Elsafe Selected to Provide In-room Safes to Accor Hotels Worldwide / Dec 2002


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