Israeli digital textiles printing solutions company Kornit Digital (Nasdaq: KRNT) has completed its new ink manufacturing factory in Kiryat Gat after three years of construction and an investment of $25 million. The company said that the move to the new factory will increase production to meet growing demand and improve the productivity of its employees.
The new factory is on an 11 dunams (2.75 acres) site and includes a production plant, development laboratories, a logistics center and offices. Kornit said, "The facility incorporates advanced automation, sophisticated workflows, and innovative technologies for production optimization. The new high-volume production facility is expected to fulfill global demand for Kornit consumables for the next decade."
Kornit CEO Ronen Samuel said, "This is a key milestone in our journey to become a $1 billion company by 2026 and will ensure for many years to come that we can support the tremendous growth our customers are experiencing. We are proud to lead the charge for a cleaner and more responsive textile industry as we continue to write the operating system for sustainable fashion and textiles on demand."
Kornit Digital is traded on Nasdaq with a market cap of $4.5 billion.
Earlier this week, Kornit announced that it is acquiring German sustainable, on-demand, digital fashion and textile production technologies company Tesoma. No financial details were disclosed whoch means the amount of the transaction was not material to the company's activities.
Published by Globes, Israel business news - en.globes.co.il - on January 27, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.