UPM’s Sale of RFID Business to SMARTRAC Concluded

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.