Published on February 3, 2010
IDENTIVE
GROUP TO CLOSE MAINZ FACILITY IN GERMANY AND INTEGRATE INDIAN
OPERATIONS
SANTA ANA, Calif. and ISMANING,
Germany, February 3, 2010 – Identive Group (NASDAQ: INVE; Frankfurt Stock
Exchange: INV), a provider of products, services and solutions for the security,
identification and RFID industries, today announced the first actions under its
previously announced cost reduction program, which include the consolidation of
facilities and a reduction in workforce.
The
Company is consolidating its operations in Mainz, Germany with its European
headquarters in Ismaning, Germany. The Mainz office is expected to be closed by
the end of March 2010.
Identive
Group is also combining and streamlining its operations in India by merging SCM
Microsystems India and SCOLIS Technologies. The two Chennai-based engineering
organizations will operate as one team focused on the contact and contactless
RFID reader technology for the Identive Group business units.
In
association with the closure of its Mainz facility and the merger of its Indian
operations, Identive Group plans the elimination of 43 positions, or 13% of its
global workforce. The workforce reduction is expected to be completed by the end
of February 2010.
The
Company will continue to implement additional cost reduction measures at both
the corporate and individual business unit levels as it proceeds with the
integration of its newly combined businesses.
About
Identive Group
Identive
Group (NASDAQ: INVE; Frankfurt Stock Exchange: INV) is an international
technology group focused on building the world’s signature company in secure
identification-based technologies. Through its group of
recognized brands, Identive provides leading-edge products and solutions in the
areas of physical and logical access control, identity management and RFID
systems to governments, commercial and industrial enterprises and consumers. The
organization’s growth model is based on a combination of disciplined acquisitive
development and
strong technology-driven organic growth from its member companies. For
additional info visit: www.identive-group.com
/More…
Note:
This press release contains forward looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These include, without limitation,
statements about our ability to reduce overhead costs through the consolidation
of offices, organizational streamlining and other measures, and the timing of
special cost reduction actions including the closure of our Mainz office and the
planned reduction in workforce. These statements are based on current
expectations or beliefs, as well as a number of assumptions about future events
that are subject to risks and uncertainties that may cause actual results to
differ materially from those contemplated herein. The closure of offices and the
reductions in workforce could take longer than we expect and might not yield the
savings we anticipate; and we might not be successful in identifying additional
areas for cost reduction or in implementing changes that we do identify. Readers
should not unduly rely on these forward-looking statements, which are not a
guarantee of future performance and are subject to a number of risks and
uncertainties, many of which are outside our control, which could cause our
actual business and operating results to differ. These risks and uncertainties
include, but are not limited to, our ability to successfully integrate the
Bluehill ID business into ours, particularly while at the same time maintaining
sales momentum; our ability to identify and take action on appropriate areas for
consolidation, streamlining or other cost reduction; and our ability to continue
to retain and motivate key management and employees during the processes of
business integration and cost reduction. For a discussion of further risks and
uncertainties related to our business, please refer to our public company
reports, including our Annual Report on Form 10-K for the year ended December
31, 2008 and subsequent reports filed with the U.S. Securities and Exchange
Commission for SCM Microsystems, Inc.
|
Contacts:
|
|
|
United States:
|
Europe:
|
|
Darby
Dye
|
Fabien
B. Nestmann
|
|
+1
949 553-4251
|
+41
44 783 8043
|
|
ddye@identive-group.com
|
fnestmann@identive-group.com
|
Page 2 of
2