Haycon Systems announced yesterday (Monday) a strategic collaboration with Sealed Air, the giant American manufacturer traded in New York (NYSE: SEE), which develops and manufactures automatic packaging solutions. The companies signed a financing agreement through the convertible loan, as part of several agreements within the framework of strategic cooperation.
The agreement includes cooperation on several levels between the two companies: development of new packaging products, expansion into new markets and improvement of production capabilities using Haikon’s technologies; An investment of 8 million dollars in the convertible loan and 15% of the investment in options that can be converted within five years at a price of NIS 3.1 per share; Additional options will be granted against making future purchases of the company’s products up to a total purchase amount of about 20 million dollars over 3 years.
SEE is one of the leading players in automatic packaging solutions with a revenue turnover of 5.5 billion dollars in 2021. The cooperation agreement includes the purchase of the first Beam 2C machine, which will be installed in one of Sealed Air’s factories during the first quarter of 2023. The implementation of the machine will allow SEE to accelerate the examination The various options inherent in the technology will also enable efficient production and distribution of unique products based on corrugated cardboard, for the company’s customers. “In recent months, SEE’s team has been very impressed with Highcon’s leading team and the company’s corporate culture. Highcon’s technology and capabilities represent a significant opportunity for SEE,” said Sergio Papkin, VP of Growth and Strategy at Sealed Air. The sustainability presented by Highcon is compatible with and helps promote our sustainability vision. Haikon’s road map is promising, and our investment in the company is a natural step towards realizing our vision.”
Sealed Air is a leading global manufacturer in the field of packaging solutions for a wide range of customers. The company’s headquarters is located in Charlotte, North Carolina, and the company employs about 16,500 people in 114 countries, with about 100 production sites and factories.
Haikon Systems is traded on the stock exchange at a value of approximately 50 million shekels after waiting for more than 80% since the IPO in Tel Aviv. The company was established in 2009 and the headquarters of the company is located in the city of Yavne. The company develops, markets, sells and supports digital systems that enable the creation of folding lines with D3 technology and laser cutting for packaging factories.