The Fedrigoni Group has entered into an agreement to acquire a majority stake in BoingTech, a subsidiary of Shanghai Inlay Link Inc (a NEEQ-listed Chinese holding company) and a pioneer 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.
After this strategic arrangement, Shanghai Inlay Link will maintain its existing activities related to the manufacturing of RFID antennas and full solutions provider through its dedicated legal entities.
Boingtech, which employees more than 300 people, is expecting a turnover of about $60 million for 2024.
