Shamir Optical Industry

Shamir Optical Industry Ltd
Native name
שמיר תעשיית אופטיקה בע"מ
Company typeJointly owned private company
Nasdaq: SHMR (until 2011)
IndustryOptics
Founded1972; 52 years ago (1972) , at Kibbutz Shamir, Israel
HeadquartersKibbutz Shamir, Israel,
Israel
Number of locations
18 Optical Labs and companies (2020)
Area served
Worldwide
ServicesDevelopment, production and marketing of progressive optical lenses
OwnerEssilor
Number of employees
2,200 employees work in Israel and abroad in 23 subsidiaries - 19 of which are production sites[1] (2021)
ParentEssilor
Websitehttps://shamir.com

Shamir Optical Industry Ltd. is an international company headquartered in Kibbutz Shamir, Israel that develops and manufactures optical lenses for eyeglasses .[2][failed verification] In 2005, the company issued dual listings, on the Tel Aviv Stock Exchange and NASDAQ, becoming the first company from the kibbutz industry to be listed on NASDAQ.[3]

History

The optics factory was established in Kibbutz Shamir in 1972 to meet the need of kibbutz members for non-agricultural work.[4][non-primary source needed] To this end, the kibbutz signed an agreement with the American company "KMS Industries" (owned by Kip Siegel), to establish a bi-focal lens factory in Israel, with production intended entirely for export.[5][6]

As part of the agreement, the company, which produced optics for televisions, agreed to provide know-how to the factory and even to buy all its products for the first two years.[7] In 1972, about two years after signing the agreement, Shamir Optical Industry Ltd was established, and the kibbutz optics factory for the production of bi-focal lenses was inaugurated by Pinchas Sapir, Israel Minister of Trade and Industry.[8]

The company expanded its production and started manufacturing progressive lenses in addition to its existing line of lenses in 1984. During that year, the factory's turnover was half a million dollars, and about 20% of the country's optics industry sector originated in the Kibbutz Shamir factory.[9]

In 1990, the company gained a foothold in the United States, with the establishment of its subsidiary, Shamir USA. Eleven years later, Shamir set up a distribution center to supply semi-finished lenses to laboratories across the United States, and for that purpose it set up another company called Shamir Insight Inc.[10]

In 2005, Shamir Optics became a public company, issued on both the Tel Aviv Stock Exchange and NASDAQ at a value of $225.4 million, making it the first kibbutz company to be issued on NASDAQ, and was the only company which has been listed on the American stock exchange that develops multifocal lenses.[3][2][11]

In 2008, Shamir strengthened its position in Europe by making the German distribution company, Altra Trading, a wholly owned subsidiary following the acquisition of 49% of its shares, adding to the 51% already held.[12]

The company merged with the French optics company Essilor in 2011.[13] The merger was carried out through the purchase of 37% of shares from the public and another 13% of shares from Shamir Optical Industry Ltd., totaling 50% of the company, for $130 million. Upon completion of the merger with Essilor, Shamir was delisted from NASDAQ and became a private company.[14]

In 2011, Dymotech Ltd filed a $28 million lawsuit against Shamir and its partly owned subsidiary Inray Ltd. Dymotech Ltd. alleged that Shamir and Inray were illegally used Technion's intellectual property, and requested restraining order against them to prevent future use of its alleged intellectual property.[15]

In May 2021, Shamir completed acquisition of Lenstec Optical Group on behalf of its owner Essilor.[16]

In August 2022, Essilor Luxottica completed acquisition of 100% Shamir.[17]

References

  1. ^ "About Us". Shamir Lens Technologies. Retrieved 2021-02-05.
  2. ^ a b "Shamir Optical CEO: Deal with Essilor is joint venture - Globes". en.globes.co.il (in Hebrew). 2010-10-17. Retrieved 2021-03-02.
  3. ^ a b "Shamir becomes first kibbutz company on Nasdaq". Haaretz. Retrieved 2021-01-30.
  4. ^ רז-חיימוביץ', מיכל (2018-03-20). "יגן משה מונה למנכ"ל ונשיא שמיר תעשיות אופטיקה". Globes. Retrieved 2021-10-06.
  5. ^ "⁨חברת "אלג'ים_^ מביאה 30 מומחים מארה"ב לפיתוח תעשיות עתירות מדע ⁩ | ⁨מעריב⁩ | 29 יוני 1970 | אוסף העיתונות | הספרייה הלאומית". www.nli.org.il (in Hebrew). Retrieved 2021-02-05.
  6. ^ "N12 - אקזיט המיליונים של קיבוץ שמיר". N12. 2010-10-22. Retrieved 2021-02-20.
  7. ^ "⁨מפעל לייצור עדשות יוקם בקיבוץ שמיר ⁩ | ⁨מעריב⁩ | 21 מאי 1970 | אוסף העיתונות | הספרייה הלאומית". www.nli.org.il (in Hebrew). Retrieved 2021-02-05.
  8. ^ "⁨נחנך מפעל לעדשות אופטיות בקיבוץ שמיר ⁩ | ⁨דבר⁩ | 21 ינואר 1972 | אוסף העיתונות | הספרייה הלאומית". www.nli.org.il (in Hebrew). Retrieved 2021-02-05.
  9. ^ "⁨התעשיה בקיבוץ דוחקת החקלאות ⁩ | ⁨מעריב⁩ | 15 מרץ 1979 | אוסף העיתונות | הספרייה הלאומית". www.nli.org.il (in Hebrew). Retrieved 2021-01-30.
  10. ^ "Shamir Insight Inc - Company Profile and News". Bloomberg.com. Retrieved 2021-01-30.
  11. ^ שלו, שי (2004-11-25). "הנפקת שמיר אופטיקה בנאסד"ק מתחממת: מחלקת אופציות ודיבידנדים". Globes. Retrieved 2021-10-06.
  12. ^ "שמיר אופטיקה השלימה את רכישת אלטרה טריידינג הגרמנית שריכזה את פעילות החברה באירופה". TheMarker. Retrieved 2021-02-05.
  13. ^ "France's Essilor to buy 50 pct of Shamir Opticals". Reuters. 2010-10-15. Retrieved 2021-10-06.
  14. ^ "Essilor to acquire half of Shamir Optical for $130 million". Haaretz. Retrieved 2021-01-30.
  15. ^ צליק, ניר (2011-01-18). "הטכניון תובע 100 מיליון שקל משמיר אופטיקה". כלכליסט - www.calcalist.co.il. Retrieved 2021-03-02.
  16. ^ Young, Kimberley. "Essilor Group to complete acquisition of Lenstec Optical Group". www.aop.org.uk. Retrieved 2021-06-09.
  17. ^ Young, Kimberley (16 August 2022). "EssilorLuxottica rachète Shamir Optical Industry". www.acuite.fr. Retrieved 2022-08-18.
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