EANS-News: Identive Group Inc.
Identive Group announces plans to boost
production capacity for core RFID technology
Doubling inlay capacity over next 12 months to address growing market demand
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
Strategic management decisions
Subtitle: Doubling inlay capacity over next 12 months to address growing market demand
Santa Ana, Calif. and Ismaning, Germany, June 2, 2011 (euro adhoc) - Identive Group, Inc. (NASDAQ: INVE; Frankfurt: INV), a provider of products, services and solutions for the security, identification and RFID industries, today announced plans to increase its global production capacity to meet growing market demand for High Frequency (HF) and Ultra High Frequency (UHF) RFID inlays. An inlay is a small electronic device consisting of a microchip bonded to an Identive-designed antenna, and functions as the heart of an RFID credential such as a smart tag, label, sticker or card. RFID is rapidly replacing traditional machine-readable identification technologies in applications such as transport and event ticketing, high-value asset tracking and electronic payment.
"To keep up with the rapidly growing demand for core RFID technology, we more than doubled our production capacity in Germany in early 2010 and further boosted our capacity with the acquisition of Smartag in Singapore at the end of the year. We plan to increase production capacity in our Munich and Singapore plants and to commence production of RFID inlays in the U.S. with the goal of doubling our total inlay production capacity over the next 12 months" stated Michael Kober, Managing Director of Transponders for Identive Group.
Ayman S. Ashour, CEO and Chairman of Identive, added, "Sales of inlays and inlay-based products are now the fastest growing part of our business. The successful completion of our recent secondary offering enables us to accelerate our plans to expand our production capacity to capitalize on the rising demand for high-performance RFID products to support emerging applications such as NFC tagging, payment and pharmaceutical tracking."
Identive expects to increase its capital spending over the next four quarters to support its RFID inlay production requirements.
About Identive Group Identive Group, Inc. (NASDAQ: INVE; Frankfurt: INV) is an international technology company focused on building the world´s signature group in secure identification-based technologies. The businesses within Identive Group provide products and solutions in the areas of physical and logical access control, identity management and RFID systems to governments, commercial and industrial enterprises and consumers. For additional info visit: www.identive-group.com.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by words such as "anticipates," "believes," "plans," "will," "intends," "expects," and similar references to the future. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Factors that could affect our ability to increase our inlay production capacity include our ability to install additional production equipment without disruption to current operations; our ability to acquire, build or otherwise add inlay manufacturing capabilities in the U.S., either in the time frame we have contemplated or at all. If we are unable to increase our capacity we may not be able to address demand from our customers and our business could be harmed. Additional information concerning other risks and uncertainties related to our business are included in our Annual Report on Form 10-K for the year ended December 31, 2010 and subsequent reports filed with the U.S. Securities and Exchange Commission.
end of announcement euro adhoc --------------------------------------------------------------------------------
company: Identive Group Inc.
Carnegie Ave., Bldg. B 1900
US-CA 92705 Santa Ana
phone: +1 949 553 4280
FAX: +49 89 9595-5555
mail: IR@SCMMICRO.COM
WWW: http://www.identive-group.com
sector: Computing & Information Technology
ISIN: US45170X1063
indexes: NASDAQ
stockmarkets: Nasdaq: New York, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf,
München, Open Market / Entry Standard: Frankfurt
language: EnglishContact:
Frau Annika Oelsner
Tel.: +49 89 9595-5220
E-Mail: aoelsner@scmmicro.com
Branche: Computing & Information Technology
ISIN: US45170X1063
WKN: A1C0ZG
Index: NASDAQ
Börsen: New York / Nasdaq
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Frankfurt / Open Market / Entry Standard