UPM sells its RFID business to Smartrac

The deal is expected to close during the first quarter of 2012, subject to regulatory approvals, and is expected to accelerate Smartrac's work with contactless credit cards and RFID transponders. "By combining the [UPM RFID inlay] business unit with a company with the industry's widest RFID business portfolio, we are giving it new leverage to continue to develop successfully," comments Jussi Vanhanen, president of engineered materials at UPM. Meanwhile, Marcus Vaenerberg, senior vice president of UPM RFID, states: "Becoming part of the leading player in the RFID industry opens up totally new possibilities for us." Dr Christian Fischer, CEO of Smartrac, confirms that UPM's product offerings for NFC and UHF RFID tags and inlays add value t his organisation. "[It] will furnish us with favourable additional manufacturing capacities in strategically important markets. The combination of Smartrac and UPM RFID will significantly accelerate our momentum as a developer and supplier of passive RFID tags and inlays for all relevant application fields."