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October 12, 2010 -
Executives from luggage wrapping company Sinapsis Trading, a
subsidiary of industry leader TrueStar Group S.p.A of Italy, announced
that its contract at
Sinapsis won the
luggage wrapping contract in August with a bid of $55.5 million over
five years while the second place and incumbent bidder only offered
$20.5 million for the same five-year period.
Sinapsis is asking
for an extension of the contract negotiation period to finalize the
agreement, but company executives fear that airport and county officials
may bow to increasing pressure from the politically connected lobbyists
of losing bidder Secure Wrap. If an extension is not granted at a
meeting today, financially struggling |
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?We have
negotiated in good faith in hope of finalizing the contract so we can
begin paying the airport approximately $10 million more per year than
what it is receiving today,? said Fabio Talin, president and CEO of
TrueStar Group. ?We do business in 33 airports in 13 countries and have
never seen a bidding process so politicized.?
Aside from
supplying financial paperwork to comply with the contract, Sinapsis has
already submitted a transition plan to the airport, screened potential
employees and ordered production of the luggage wrapping equipment.
Executives said that hyper-technical interpretations of the contract
requirements by airport and county officials have put the contract in
jeopardy.
?Our competitor
senses an opportunity to have us disqualified and has assembled an
all-star team of lobbyists to derail us,? said Talin. ?The contract had
been locked-up for years until the county?s own inspector general forced
the airport to open the luggage wrapping business to competitive bids.?
TrueStar Group S.p.A. is an international airport services operator
with a widespread presence in 33 airports in 13 countries located on
three continents. The company offers a complete range of
comprehensive passenger assistance services and provides luggage and
document wrapping, protection and insurance services to the
passenger, with its SecureBag brand.
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