Shamir Optical Industry News
7 articles
growth-positive
SHAMIR SELECTS IMDT's 3D STEREO VISION TECHNOLOGY TO POWER ITS NEXT-GENERATION DIGITAL MEASUREMENT DEVICE
Shamir Optical Industry Ltd. has announced its next generation digital measurement device, the Spark™ 4, which utilizes IMDTs 3D technology. The device offers opticians a simple and effective ophthalmic measurement experience. The Spark™ 4s advanced lens measurement system was developed by IMDT using proprietary 3D technology and high-resolution camera sensors. Shamir chose IMDT as a partner due to their expertise in developing the platform and integrating various components. IMDT specializes in developing and manufacturing advanced technological products and solutions. The collaboration between Shamir and IMDT is expected to lead to future innovations and product enhancements.
Partners
growth-positive
EssilorLuxottica buys remaining 50% stake in Shamir Optics
French-Italian eyewear company EssilorLuxottica has acquired the remaining 50% stake in Shamir Optical Industry Ltd. from Kibbutz Shamir in a deal estimated to be worth hundreds of millions of dollars. This acquisition allows EssilorLuxottica to have 100% ownership of Shamir Optical and strengthens their partnership. Shamir Optical will continue to operate as a separate brand, with its CEO reporting directly to EssilorLuxotticas CEO. The company has been experiencing revenue growth, even during the Covid pandemic, and has expanded into new markets in Asia. The acquisition is seen as a milestone for Shamir Optical and will enable them to take advantage of unique opportunities and accelerate the launch of innovative products and solutions.
Acquisition
growth-positive
Shamir Announces VisionFIRST to Support Our First Responders Holding the Front Line, Providing Them With Complimentary Prescription Lenses
Shamir is collaborating with eye care professionals nationwide to provide complimentary prescription eyewear to first responders through their #VisionFIRST program. The program aims to ensure the safety of healthcare professionals on the front line by offering personalized and manufactured safety eyewear. Shamir has partnered with over 20 optical laboratories, with an expected total of 100 participating nationwide. All Shamir digital lens products, including their premium progressive lens product Autograph Intelligence, will be available for first responders in need of eyewear. The company is actively working with eye care professionals to ensure proper prescriptions are submitted to the optical labs.
PartnersCustomers
growth-positive
Shamir Optical Industry Partners with Japan's Optics Giant - Paris Miki
Shamir Optical Industry has entered the Japanese market through a business partnership with Paris Miki, Japans biggest optics chain. Shamir will provide its breakthrough InoTime technology for the production of personalized optical lenses within 24 hours. The partnership is significant as Japanese companies usually prefer working with domestic firms, but Shamirs technology won them over. The service will be offered through an InoTime laboratory in Tokyo, allowing customers to receive customized glasses within one day. Shamir has established similar laboratories in other countries as well. The CEO of Shamir Optical Industry sees this partnership as a historic moment and aims to continue being a global leader in the field with Israeli technology.
PartnersCustomers
growth-positive
From zero visibility to night vision at Shamir Optical
Shamir Optical Industry Ltd., a global player in the prescription lens market, has experienced positive growth due to increased demand for eyewear. The company recognized the need to improve its supply chain operations and implemented changes to centralize procurement, establish a multiechelon network, and overhaul its IT systems. By implementing a planning system and working with supply chain specialists, Shamir was able to optimize inventory, reduce stockouts, and improve service levels. The company expanded its centralized inventory approach and transformed its operation into a fully networked, demand-driven model. As a result, inventory levels were reduced by over 25% while achieving service levels exceeding 99%. Shamirs transformed distribution network has positively impacted its bottom line and positioned the company for sustainable growth.
Expand
growth-positive
Kibbutz Shamir and Essilor Announce the Completion of the Acquisition of 50% of Shamir Optical by Essilor
Shamir Optical Industry Ltd. has been successfully acquired by Essilor International. The acquisition will accelerate the development of Shamir Optical and expand Essilors product offering. Shamir Optical reported 2010 revenues of $158 million. Shamir Optical will be fully consolidated in the accounts of Essilor from July 1st. Shamir Opticals shares are being delisted from the Nasdaq Global Market and the Tel Aviv Stock Exchange.
Acquisition
growth-negative
Essilor to acquire half of Shamir Optical for $130 million
Shamir Optical Industry has officially announced its merger with Essilor International. Essilor will be acquiring 50% of Shamir Opticals share capital, and Shamir Optical will become consolidated into Essilors operations. The transaction will result in Shamir Optical being de-listed from NASDAQ and the Tel Aviv Stock Exchange. Essilor will be paying $15.30 per share, including a special dividend of $0.80 per share. The total amount paid by Essilor for half the company is $130 million. The transaction is subject to shareholder approval and regulatory and tax approval. The merger is expected to close in mid-2011. Shamir Optical expects the merger to accelerate product development and strengthen its market presence.
Acquisition
