The Fedrigoni Group – a global manufacturer of specialty papers for luxury packaging and other creative applications, self-adhesive labels, graphic media for visual communication, and RFID solutions – has acquired a majority stake in BoingTech.
BoingTech is a subsidiary of Shanghai Inlay Link Inc (a NEEQ-listed Chinese holding company) and one of the pioneers in the manufacturing 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 continued business enhancement, while Fedrigoni will have the right to purchase the remaining shares of BoingTech in the future.
Strengthened position in RFID technologies
After this strategic arrangement, Shanghai Inlay Link will maintain its existing activities related to the manufacturing of RFID antennas and remain a full solutions provider through its dedicated legal entities. Thanks to the Boingtech acquisition, which is expected to generate a turnover of about $60 million for 2024 and involves more than 300 employees, Fedrigoni strengthens its position as a player in RFID, bringing additional value to customers in both its businesses of self-adhesives and specialty papers for luxury packaging and other creative applications, where it is increasingly important to track-and-trace products along the value chain, as well as to find solutions to protect brands, verify their authenticity and prevent counterfeiting but also to provide consumers with increasingly engaging shopping experiences.
Strategic importance of RFID
“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 and system integrators, and meet their needs,” comments Marco Nespolo, CEO at Fedrigoni Group. “Furthermore, the acquisition is coherent with our expansion in Asia, where we already have a good presence in terms of manufacturing and distribution footprint.
“I am delighted to welcome a global player such as Fedrigoni and to start a transformation journey for BoingTech with them, grounded on a shared vision,” stated Mr. Li, founder of Shanghai Inlay Link. “I am sure this partnership will boost our ability to meet customers’ needs, leveraging on Fedrigoni Group’s global commercial network and its presence in over 130 countries.”