Thin Film Electronics ASA ADR (OTC:TFECY) has announced that it has completed its first fully roll-processed lots of die from its new roll-to-roll (R2R) manufacturing facility in California. These are Electronic Article Surveillance (EAS) die for use in anti-theft tags in apparel. It has also announced that it expects to complete its first fully roll-processed NFC lots by January 2019, reducing the uncertainty regarding the timescale for full NFC tag production.
In our August note, we commented that Thinfilm had started fully processing EAS tags in the facility at the end of May. While results from the initial batch processed had established the commercial viability of the R2R line, the amount of time spent optimising equipment in San Jose was likely to push completion of a fully roll-processed lot out to early September. Tuesday's announcement shows that this phase has now completed, with the successful fabrication of hundreds of thousands of EAS die. Management expects that engineering samples of EAS tags from roll-manufactured die will be shipped to Thinfilm's lead customer for qualification in Q418.
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