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Avery Dennison Commits $35M to RFID
Label making giant Avery Dennison is forging ahead with an aggressive $35 million commitment to RFID development in 2005 alone.
Feb 22, 2005—This article was originally published by RFID Update.
February 22, 2005—While acknowledging some nagging imperfections of RFID, label making giant Avery Dennison is forging ahead with an aggressive commitment to develop of the technology: $35 million in 2005 alone. The Pasadena, California-headquartered company will take a "chip agnostic" strategy, using RFID tag technology from biggies like Alien, Matrics (now owned by Symbol), Philips, and Texas Instruments. Improved accuracy and increased availability are Avery's goals; it aims to produce RFID labels with superior read rates, and it hopes to do so at levels of production as high as ten times those common today. Not surprisingly, the biggest drivers of widespread adoption -- pharmaceuticals and Wal-Mart and DOD mandate-driven supply chain tracking -- are the projected sources of Avery profits.
Thirty-five million dollars is no small sum, even from a giant like Avery, and it testifies to the company's commitment to RFID technology first made official last September when the RFID division was formed. Chairman and CEO Philip M. Neal said at the time, "As we shift our RFID activities from a business venture mode to implementing our high-speed, low-cost manufacturing strategy, we continue to be enthusiastic about the excellent long-term growth opportunities of RFID. We see our emerging RFID business as the Company's largest long-term growth opportunity."
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