Finnish Industry Investment, UPM and Outokumpu Technology have established a joint venture to produce high quality RFID (radio frequency identification) antennas as well as to develop their production technologies. The joint venture is the world's first producer to specialise in RFID antennas aiming at global markets.
Finnish Industry Investment's shareholding in the company to be founded is 28 per cent. UPM has a 38 per cent, Outokumpu Technology a 28 per cent and the management of the company a 6 per cent shareholding. Antenna production is scheduled to start in the autumn of 2005.
"The demand for RFID tags grows strongly globally. Until now, there has not been a strong enough antenna manufacturer to respond to the growing demand. The operative model of the new company is based on combining the know-how of UPM and Outokumpu Technology as well as the strong resources of the owner companies," says Director Kimmo Viertola.
RFID antenna is a strategic component in tags based on radio frequency identification. Antennas transmit information between the reader and the tag on radio waves. RFID systems are used for product identification and stock control among other things.
UPM and Outokumpu have a long cooperation in developing production technologies for RFID antennas. UPM has several years experience of producing RFID tags at UPM Rafsec. Outokumpu Technology will bring significant know-how in metallurgy and technology to the new company. Finnish Industry Investment Ltd is a government-owned investment company engaging in investment of venture capital funds to promote the growth of Finnish entrepreneurship.
Further information:
Mr Kimmo Viertola, Director, Finnish Industry Investment Ltd
tel. +358 9 6803 6815
Mr Jarkko Viheriävaara, Director, Finnish Industry Investment Ltd
tel. +358 9 6803 6831