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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 SpeedTapT and OpenSenseT. 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.
