UPM’s sale of RFID business to SMARTRAC concludedMonday, April 2, 2012
UPM's sale of RFID business to SMARTRAC N.V. was completed on 31 March 2012 following clearance by all competent authorities. The RFID business consisting of three companies in Finland, the United States and China, has been transferred to the new owner. The deal was published on 22 December 2011.
UPM will become an indirect shareholder of SMARTRAC with a 10.6 percent economic interest through the company OEP Technologie B.V., a holding company controlled by One Equity Partners and one of the major shareholders of SMARTRAC.
“We are pleased that our pioneering RFID team and their excellence have a new home at SMARTRAC, making it the undisputable leader in the RFID industry. I want to thank the RFID team for the great work and wish all the best for the future. As a shareholder of SMARTRAC, UPM keeps a keen interest on the rapidly developing RFID market,” says Mr Jussi Vanhanen, President Engineered Materials Group, UPM.
SMARTRAC is registered in the Netherlands, and is one of the global market leaders in high-quality RFID inlays for electronic passports and contactless credit cards as well as for RFID transponders for public transport applications.
For further information, please contact:
Mr Jussi Vanhanen, President Engineered Materials Group, UPM, tel. +358 40 567 2458
UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 24,000 people and it has production plants in 16 countries. UPM's annual sales exceed EUR 10 billion. UPM's shares are listed on the Helsinki stock exchange. UPM – The Biofore Company – www.upm.com