Solicore & InCard’s European Market Expansion Spurred By High-Speed Production Line

November 09, 2008 by Jeff Shepard

Solicore, Inc. announced that it has increased its European market presence through Innovative Card Technologies’ (InCard) heightened penetration into this territory. InCard is the developer of the DisplayCard™ for e-banking, e-commerce and secure data access and has been a strategic distribution partner of Solicore’s for over five years. The DisplayCard features a one-time password generator powered by Solicore’s ultra-thin, flexible Flexion® batteries, which will be manufactured from the company’s recently updated high-speed production line capable of producing up to 1.25 million units per month.

Solicore states that its faster production process comes at an ideal moment for InCard, as the company continues to expand its customer base, as well as orders per customer, which is reflected in their revenue increase of 400% from first to second quarter in 2008. It is claimed that the speedier product delivery will also positively impact InCard’s efforts of deeper penetration into the fast growing European market, enabling InCard to seamlessly carry out its initiatives to further expand its customer base in this region. InCard recently launched a program in conjunction with Nordic Edge, a European identity and access management provider, to distribute InCard DisplayCards to Swedish civic employees for data access authentication. This partnership is expected to escalate as the program is opened to additional sectors, such as school employees.

"We are extremely pleased with the increased rate at which Solicore will be able to fill our orders and how the newly redesigned high-speed production line will help to further the market expansion of InCard’s DisplayCard in Europe," says Steve Delcarson, CEO of InCard. "InCard’s relationship with Solicore will be a great asset as we continue to grow and we are looking forward to working together to proliferate our presence in the European market."

"We are filling orders for companies shipping to nearly all points of the globe," said David Corey, CEO of Solicore. "As the industry gains momentum, it is crucial for us to be able to not only match it in scale, but to set a strong pace, driving innovation and enabling the development of newer, more secure applications for all market segments. Our high-speed line will provide a valuable way for InCard as well as our customer base to experience the growth and prosperity this sector will bring."