July 25, 2006
3M Scores a Triple-play With US Govt RFID Contracts
The DHS (Department of Homeland Security) may be unsure how they want to use RFID, but other branches of the US government are not. As such, 3M Corporation (NYSE: MMM) has secured their 3rd RFID contract from an US government agency in as many weeks.
The latest contract is from the US military, to track medical records of over 150,000 personnel. This contract is for three years and just under $4 million. Last week, 3M received a contract from the US Tax Court to use RFID to track over 100,000 case files. Prior to that, 3M's file-tracking solution was purchased by the US Tax Division.
The file-tracking solution works on paper-based files, which produces all kinds of data management problems - such as misplaced files and inefficiencies in retrieval. Such a system could presumably be used in any practice which requires the use of paper files. For example, attorney's offices, some of which have purchased 3M's solution.
3M's shares have been on since about 1982, with a bit more volatility in the . With this triple play in the government sector, this may open up loads of opportunities for 3M in law enforcement, law offices, hospitals and more. Such moves on the part of the government also give a boost to the perception that RFID can be used in legitimate ways.
Additional sources: [via RFID Update, RFID Update daily e-newsletter, RFID Lowdown]
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