OSLO, Norway--(BUSINESS WIRE)--Thin Film Electronics ASA (“Thinfilm”) (OSE:THIN.OL; OTCQX:TFECY), a global leader in printed electronics and smart systems, today announced key progress on several strategic initiatives related to a new US facility, business expansion in China, and its Quality Management program.
In May, Thinfilm announced its intent to lease a new, state-of-the-art production facility and communicated plans to relocate its current US headquarters to the new building in early 2017. The planned upgrade, which features a significantly larger manufacturing clean room, enables Thinfilm to support its plans to scale current production and implement a high-volume roll-to-roll manufacturing line. Thinfilm expects to gain access to the building in October, subject to approval from municipal authorities and the final agreement between the seller and the developer. In addition, Thinfilm has signed a lease with the developer, hired an architect and general contractor, and is making preparations to begin with construction and related tenant improvements.
Thinfilm has also taken steps to expand its sales and business development operations in China. The expansion is in response to growing interest among Asia-based businesses in Thinfilm’s NFC (Near Field Communication) technology, particularly SpeedTap™ and OpenSense™. The initiative gives Thinfilm a valuable sales and business development presence in China, enables the Company to leverage local manufacturing support, and improves its overall ability to successfully conduct business in the APAC region.
As part of its ongoing commitment to quality, Thinfilm successfully completed a surveillance audit as part of a required process to maintain the firm’s ISO 9001:2008 certification. The certification is an industry standard that verifies the integrity of an organization’s Quality Management Systems (QMS) and recognizes its ability to meet customers’ quality requirements while continually improving operational processes. The recent, two-day onsite audit by a leading ISO registrar rigorously examined Thinfilm’s current business practices and processes, and the positive results reflect the continuous improvements made to Thinfilm’s QMS.
About Thin Film Electronics ASA
Thinfilm is a leader in the development and commercialization of printed electronics. The first to commercialize printed, rewritable memory, the Company is creating printed systems that include memory, sensing, display, and wireless communication, all at a low cost unmatched by any other electronic technology. Thinfilm’s roadmap integrates technology from a strong and growing ecosystem of partners to enable the Internet of Everything by bringing intelligence to disposable goods.
Thin Film Electronics ASA (“Thinfilm”) is a publicly listed Norwegian company with headquarters in Oslo, Norway; product development and production in Linköping, Sweden; product development, production, and business development in San Jose, California, USA; and sales offices in the United States, Hong Kong, and Singapore. For more information, visit www.thinfilm.no.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).