Herzlia, Israel -- Scitex Corporation Ltd. (Nasdaq: SCIX), today announced the completion of its investment in Jemtex Ink Jet Printing Ltd., a developer, manufacturer and seller of inkjet based digital textile printing systems. Scitex will hold approximately 30% of the company's equity, post-investment with an option to increase its holding to 51% in the future.
Yoav Z. Chelouche, President and Chief Executive Officer of Scitex, said: "We continue to invest in specialized technology companies that are revolutionizing their industries. The investment in Jemtex enhances the Scitex network of companies applying specialty inkjet technologies (Scitex Digital Printing, Scitex Vision, Aprion Digital, and Objet Geometries), positioning Scitex as a leader in industrial inkjet based technologies and solutions."
Jemtex's continuous inkjet technology and matching consumables will provide productivity, operating cost, reliability and repeatability currently unavailable in short run digital textile production.
Jemtex was founded in 1995 by Dr. Meir Wexler and Dr. Shuki Sheinman, and is located in Lod, Israel.
The worldwide textile printing industry is estimated at more than US$200 billion, with the overall yearly length of printed output exceeding 25 billion linear meters.
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