SMART PACKAGING & PRINTED ELECTRONICS
Stronger together on the way to rapid RFID growth
The Fedrigoni Group, a global producer of speciality papers for luxury packaging and other creative applications, self-adhesive labels, graphic media for visual communication and RFID solutions, has acquired a significant stake in BoingTech. With the acquisition, the fifth this year, the group continues to diversify it´s premium product offering.
Thanks to BoingTech acquisition, which is expecting a turnover of about $60 million for 2024, Fedrigoni strengthens its position in RFID. Image: Fedrigoni
The deal will provide the group’s customers with new opportunities both in the pressure sensitive label market, where Fedrigoni ranks third in the world, and in speciality papers for luxury packaging, where the company claims to be the world leader. BoingTech, a subsidiary of Shanghai Inlay Link Inc (a NEEQ listed Chinese holding company) and one of the pioneers in the manufacture of RFID inlays and tags, both UHF and HF/ NFC, produced in its two plants, in China and Malaysia. Shanghai Inlay Link will retain a significant share to ensure a smooth transition and further development of the business, while Fedrigoni will have the right to acquire the remaining shares of BoingTech in the future. After this strategic arrangement, Shanghai Inlay Link will continue its existing activities related to the manufacturing of RFID antennas and full solutions provider through its dedicated legal Thanks to the acquisition of Boingtech, which is expected to generate revenues of approximately $60 million in 2024 and 300 employees, Fedrigoni strengthens its position as a player in RFID, bringing added value to customers in both its self-adhesive and speciality paper businesses for luxury packaging and other creative applications, where it is more and more important to track and trace products along the value chain and
to find solutions to protect brands, verify their authenticity and prevent counterfeiting, as well as to provide consumers with increasingly shopping experiences. "The world of RFID is growing rapidly and is increasingly strategic for our group. This deal is a further step to significantly increase our size in the segment RFID inlay manufacturing, as well as widen our ability to partner with our customers, alike converters, printers or system integrators, and meet their needs," comments Marco Nespolo, CEO of Fedrigoni Group. "Moreover, the acquisition is in line with our expansion in Asia, where we already have a good presence in terms of manufacturing and distribution." "I am delighted to welcome a global player such as Fedrigoni and to embark with them on a journey of transformation for BoingTech based on a shared vision," says Mr Li, founder of Shanghai Inlay Link. "I am sure that this partnership will enhance our ability to meet our customers’ needs by leveraging Fedrigoni Group’s global commercial network and presence in over 130 countries."
www.fedrigoni.com