UPM Sells RFID Business

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.

“UPM has been developing and investing in its RFID inlay business for a number of years. The business unit has evolved from a small venture to a sizeable business and is now recognised as the market leader in its field. Combining the business unit with a company with the industry’s widest RFID business portfolio, we give it new leverage to continue to develop successfully. We see significant value increase potential in this new combination. Therefore, we are pleased to become an indirect shareholder of SMARTRAC,” says Jussi Vanhanen, President, Engineered Materials, UPM.