Kornit Digital Unveils State-of-the-Art Ink Manufacturing Site

Rhea-AI Summary

Kornit Digital Ltd. (NASDAQ: KRNT) recently inaugurated a new state-of-the-art ink manufacturing facility in Kiryat Gat, Israel. This 11,000-square-meter facility, built with a $25 million investment, is designed to meet growing global demand for Kornit's consumables over the next decade. The facility features advanced automation and innovative technologies aimed at optimizing production. CEO Ronen Samuel stated this milestone supports the company's goal of becoming a $1 billion entity by 2026 and emphasizes Kornit's commitment to sustainable practices in the textile industry.

Positive

• Inauguration of a new 11,000-square-meter ink manufacturing facility.
• Investment of $25 million aimed at meeting global demand for the next decade.
• Facility designed with advanced automation and production optimization.
• Supports Kornit’s goal to become a $1 billion company by 2026.

Negative

• None.

Modern, high production volume facility supports Company’s growth plans and sustainability mission

ROSH HA’AYIN, Israel, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. (NASDAQ: KRNT), a worldwide market leader in sustainable, on-demand, digital fashion^x and textile production technologies, announced today the official opening of its new scalable, state-of-the-art ink manufacturing facility in Kiryat Gat, Israel.

The modern, 11,000-square-meter 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.

Recently completed at an estimated investment of $25 million USD, the facility was built in accordance with the highest quality, safety, and security standards, reflecting the Company’s commitment to environmental, social, and governance (ESG) targets embedded in Kornit Digital’s 2020 Impact Report.

“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,” said Ronen Samuel, Kornit Digital’s Chief Executive Officer. “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.”

About Kornit Digital
Kornit Digital (NASDAQ: KRNT) is a worldwide market leader in sustainable, on-demand, digital fashion^x and textile production technologies. The company is writing the operating system for fashion with end-to-end solutions including digital printing systems, inks, consumables, and an entire global ecosystem that manages workflows and fulfillment. Headquartered in Israel with offices in the USA, Europe, and Asia Pacific, Kornit Digital serves customers in more than 100 countries and states worldwide. To learn more about how Kornit Digital is boldly transforming the world of fashion and textiles, visit www.kornit.com.

Investor Contact
Andrew G. Backman
Global Head of Investor Relations
andrew.backman@kornit.com

FAQ

What is the significance of Kornit Digital's new facility in Kiryat Gat, Israel?

The new facility is crucial for Kornit Digital to meet global demand for its consumables and supports its growth strategy.

How much did Kornit Digital invest in the new ink manufacturing facility?

Kornit Digital invested approximately $25 million in the new facility.

What is Kornit Digital's goal for revenue by 2026?

Kornit Digital aims to reach a revenue of $1 billion by 2026.

What technologies are incorporated in Kornit Digital's new facility?

The facility includes advanced automation and innovative technologies for production optimization.

How large is Kornit Digital's new ink manufacturing facility?

The new facility covers an area of 11,000 square meters.