N.R. Spuntech Industries News
3 articles
growth-positive
Spuntech signs $130m Procter & Gamble deal
NR Spuntech Industries, an Israeli nonwoven cloth manufacturer, has signed a three-year contract with Procter & Gamble for the supply of products used in the production of wet wipes. The company expects annual sales to Procter & Gamble to be around $43 million, with a total of $130 million for the entire three-year period. NR Spuntechs share price has increased by 1% today and 26% in the past six trading days. The contract with Procter & Gamble is significant for NR Spuntech as it accounts for nearly 30% of its annual revenue. The company finished the first quarter of 2018 with increased revenue and profits compared to the previous year.
Customers
growth-positive
The Ticker: Spuntech wins $65 million order for non-woven fabric
NR Spuntech Industries, a maker of non-woven fabrics, has won a $65 million contract, 50% bigger than the original one from 2012-14. The company will be adding a second U.S. production line next year at a cost of $50 million. Ceragon Networks, a maker of wireless communications technology, received follow-on orders from an unidentified telecommunications company operating in Asia and Africa, bringing the total value of the contract this year to $50 million. Frutarom, maker of flavors and fine ingredients, agreed to buy the flavors and natural food colors division of Peru’s Montana for $28.5 million in cash. Itamar Medical expects to end three years of sluggish growth after signing three new sales agreements in the U.S. and Japan.
CustomersInvestmentAcquisitionExpand
growth-positive
Competitor bids to buy Spuntech
NR Spuntech Industries, a non-woven fabrics company, has received a takeover bid from one of its competitors. The companys share price has risen by 50% this year, resulting in a market cap of NIS 363 million. The main shareholders in Spuntech are Nissan Industries, Gandir Investments, and Psagot. Spuntech manufactures non-woven fabrics using hydroentanglement and exports 90% of its production to the US and Europe. The company has three factories in Israel and its largest factory is in North Carolina. In the first nine months of 2012, Spuntech experienced a 10% increase in revenue and a 27% rise in net profit. Other companies in the non-woven fabric industry in Israel include Shalag Industries, Albaad Massuot Yitzhak Ltd., and Avgol Nonwoven Industries.
Acquisition
