December 20, 2021
A US company has placed a $ 2.5 million order for the high-end digital system for corrugated board production. CEO Nimrodi: “We see potential for follow-up orders from this customer.”
Pictured above: CEO of Haikon Systems, Shlomo Nimrodi
Highcon Systems from Yavneh received a first order for the Beam2C non-stop system, which is a high-end system for the digital production of corrugated cardboard. The company reported that the $ 2.5 million order was received from a large U.S. company that operates many manufacturing plants. The order will be made in two stages: in the first phase, the customer will receive a Beam2C system before the end of 2021, and this will be upgraded in 2022 to the Beam2C non-stop level, which allows continuous cardboard feeding without the need to stop the machine for loading paper surfaces.
Haikon Systems CEO Shlomo Nimrodi said this deal is a significant milestone for the company. “The order was placed after a comprehensive series of tests performed by the customer, including testing with existing customers of the company. We see potential for additional purchases from this customer. ” Haikon was founded in 2009 by Aviv Ratzman and Michael Zimmer, and is currently managed by Shlomo Nimrodi and employs about 100 people in Israel and around the world. The company has developed digital technology for the production of corrugated and hard cardboard packaging and stands, which is intended to replace the existing production method, in which folding and cutting molds are produced by tedious manual work on wooden pallets and cutting knives.
A digital revolution in the cardboard market
The company’s technology is based on the immediate production of molds using a laser beam and a solidifying polymer, and the immediate creation of folding and cutting lines of cardboard (corrugated and hard) from which packaging is made (using folding and gluing). The company’s system is protected by about 60 patents and reaches a work rate of up to 5,000 issues per hour. To date, Hacon has sold Beam-type systems in the $ 1.3-2.0 million price range and Euclid-type systems in the $ 0.6-1.0 million price range. The new system is at a higher price point and has higher production capabilities, and the company estimates it is expected to increase revenue from consumables and service districts over the life of the machine.
In August 2021, the company reported results for the first half of the year, which totaled about $ 6.45 million. The company has provided customers with close to 70 systems, a large proportion of them for repeat customers who use more than one system in their production lines. “Our vision is to revolutionize this market and move a large portion of cardboard packaging production from traditional analog production to digital production,” CEO Nimrodi said at the conference call with investors. Since its inception, it has raised about $ 150 million, of which $ 45 million was raised in December 2020 on the Tel Aviv Stock Exchange, where the company is currently traded at a market value of about NIS 193 million.
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