Caesarstone signs IKEA US deal

The Kibbutz Sdot Yam company will be the exclusive supplier of non-laminate countertops to IKEA US.

Engineered quartz surfaces maker Caesarstone Sdot Yam Ltd. (Nasdaq: CSTE) has signed a contract with IKEA US to be its exclusive supplier of non-laminate countertops. Caesarstone said that the contract would have no material effect on its results in 2013, and was taken into account in its guidance.

Under the agreement, the Kibbutz Sdot Yam company will source, finish, and distribute countertop products, including mainly Caesarstone quartz surfaces, as well as other materials.

Caesarstone CEO Yosef Shiran said, “We are excited to begin this important relationship with one of the world’s great retailers. IKEA has been a driving force in bringing great modern design and tremendous value to a wide range of consumers around the world, particularly through their customized kitchen and bath product lines. This collaboration with IKEA reinforces Caesarstone quartz surfaces' superiority in quality and designs. We believe that our organization's strong capabilities will make this project a success and we look forward to contributing to the continuing success of IKEA.”

Published by Globes [online], Israel business news - - on May 16, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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