Identiv’s Thailand Production Facility Achieves ISO 9001:2015 and ISO 14001:2015 Certifications

Rhea-AI Summary

Identiv (NASDAQ: INVE) announced that its Thailand production facility has achieved ISO 9001:2015 and ISO 14001:2015 certifications, highlighting its commitment to quality management and environmental sustainability. Achieving these certifications within less than a year of operation, the facility now joins Identiv’s Singapore operation, which also recently renewed its ISO certifications through 2026. This milestone supports Identiv’s strategy to shift the majority of its RFID and BLE production to Thailand, leveraging lower costs and advanced equipment. The full transition is expected to complete by the end of Q1 2025, with future expansion plans already underway.

Positive

• Achieved ISO 9001:2015 and ISO 14001:2015 certifications within a year of operation.
• Supports Identiv’s long-term commitment to quality management and environmental sustainability.
• Facilitates transition of majority RFID and BLE production to Thailand, reducing costs.
• Identiv’s Singapore facility renewed its ISO certifications through 2026.
• Secured additional building for future capacity expansion in Thailand.
• Thailand facility can produce advanced IoT devices, enhancing product range.

Negative

• Transition of production from Singapore to Thailand might involve logistical challenges.
• Potential risks associated with shifting majority of production to a new facility.
• Uncertainty about the impact on Singapore's workforce due to reduced operations.

FREMONT, Calif.--(BUSINESS WIRE)-- Identiv, Inc. (NASDAQ: INVE), a global technology leader specializing in advanced Internet of Things (IoT) solutions, today announced that its radio frequency identification (RFID) and Bluetooth Low-Energy (BLE) device production facility in Thailand has earned the ISO 9001:2015 Quality Management System and ISO 14001:2015 Environmental Management System certifications, affirming its adherence to world-class quality management and environmental sustainability standards.

Achieving ISO certification is a major milestone for a facility that has been in operation for less than 12 months. These certifications from the International Standards Organization (ISO) confirm that Identiv's operations in Thailand meet the rigorous requirements for both quality and environmental responsibility across its materials, products, processes, and services. Further, the strong industry expertise of Identiv's operations team facilitated the accelerated timeline for earning ISO certification. Identiv’s Singapore facility recently renewed its ISO 9001 and ISO 14001 certifications through 2026.

“Earning ISO 9001 and ISO 14001 certifications at a new facility in a notably short time frame is a tremendous achievement for Identiv,” said Dr. Manfred Mueller, Chief Strategy Officer, Identiv. “These internationally recognized certifications validate our long-standing commitment to sustainability and quality management throughout our entire production process, providing us with a strong foundation to accelerate RFID production at our Thailand facility.”

As previously disclosed, Identiv intends to accelerate the transition of the majority of its RFID and BLE production to its Thailand facility to benefit from its lower cost structure and state-of-the-art production equipment. In addition to RFID- and BLE-enabled devices, Identiv’s current Thailand facility can produce sensor-enabled, active, multi-component IoT devices. Identiv expects the production transition from Singapore to Thailand to be largely complete by the end of Q1 2025 and has already secured the building adjacent to its current Thailand facility for future capacity expansion. Subsequently, the company's main RFID manufacturing will be based in Thailand, while a smaller R&D and engineering-focused operation will remain in Singapore. Identiv will continue to maintain its primary R&D and Engineering center in Germany.

About Identiv

Built into over 1.5 billion applications worldwide, our full-circle IoT solutions give digital identities to physical objects, enhancing global connectivity for businesses, people, and the planet. Learn more at identiv.com/iot.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations as well as the current beliefs and assumptions of management of Identiv and can be identified by words such as “anticipate,” “believe,” “continue,” “plan,” “will,” “intend,” “expect,” “outlook,” and similar references to the future. Any statement that is not a historical fact is a forward-looking statement, including statements regarding: Identiv’s beliefs related to the ISO certification; Identiv’s commitment to sustainability and quality management; expectations regarding Identiv’s production facility transition, including expected benefits from the transition and timing thereof; and expectations regarding future capacity expansion and use of other facilities. Forward-looking statements are only predictions and are subject to a number of risks and uncertainties, many of which are outside Identiv’s control, which could cause actual results to differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: Identiv’s ability to continue the momentum in its business; Identiv’s ability to successfully execute its business strategy, including with respect to its IoT business; changes in its business strategy; Identiv’s ability to capitalize on trends in its business and penetrate the healthcare and other specialty markets; the effect of competition on Identiv’s business; Identiv’s ability to satisfy customer demand and expectations; the level and timing of customer orders and changes/cancellations; issues related to the transition to lower cost manufacturing; the loss of customers, suppliers or partners; the success of Identiv’s products and strategic partnerships; industry trends and seasonality; actual cost savings, if any, and cash usage; the impact of macroeconomic conditions, customer demand and inflation; and the other factors discussed in its periodic and other reports and documents filed with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, definitive proxy statement filed on May 13, 2024 and subsequent reports filed with the SEC. All forward-looking statements are based on information available to Identiv on the date hereof, and Identiv assumes no obligation to update such statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240606515643/en/

Identiv Media Contact:

press@identiv.com

Identiv IR Contact:

IR@identiv.com

Source: Identiv, Inc.

FAQ

What certifications did Identiv's Thailand facility achieve?

Identiv's Thailand facility achieved ISO 9001:2015 and ISO 14001:2015 certifications.

When is Identiv's RFID and BLE production expected to fully transition to Thailand?

Identiv expects the full transition of RFID and BLE production to Thailand to be complete by the end of Q1 2025.

Which Identiv facility renewed its ISO certifications recently?

Identiv’s Singapore facility recently renewed its ISO 9001 and ISO 14001 certifications through 2026.

What benefits does Identiv expect from transitioning production to Thailand?

Identiv expects to benefit from lower costs and state-of-the-art production equipment at its Thailand facility.

What additional capabilities does Identiv’s Thailand facility have?

In addition to RFID and BLE devices, Identiv’s Thailand facility can produce sensor-enabled, active, multi-component IoT devices.