Industry News
Kornit Digital plans return to profitability in 2023
F
ollowing a difficult 2022, Kornit Digital will focus on returning to profitability after announcing a drop in revenue from 2021.
Total revenue for Kornit in the year ended December 31 was $271.5 million, a drop from $322 million the year previous.
Ronen Samuel, Kornit’s chief executive officer, said: “A solid peak season drove fourth quarter growth in consumables and services revenues. “There is no doubt that 2022 was a very difficult year for us, our
Avery Dennison acquires
A Thermopatch
very Dennison has completed its acquisition of Thermopatch, a leader specialising in labelling, embellishments, and transfers for the sports, industrial laundry, workwear and hospitality industries.
Thermopatch will become part of the company’s Solutions Group. The acquisition will allow the combined business to build on collective industry knowledge, leveraging the company’s know-how, quality, and service to drive growth in external embellishments. Thermopatch, headquartered in Syracuse, New York, had revenues of approximately $40 million in 2022, with around 200 employees, with operations in North America and Europe. Tom DePuit, CEO of Thermopatch, said: “This next chapter is a great opportunity for us. I am proud of what we as a business have accomplished over the last 85 years, and I am confident that Thermopatch will continue to thrive. With the combined capabilities of both businesses, we can further advance innovation and provide increased value for our customers and the industries we serve while continuing to deliver the same quality of service.” Thermopatch is now an Avery Dennison Company.
www.printwearandpromotion.co.uk Ronen Samuel, CEO of Kornit
customers and the global fashion and textile industry. We took decisive actions throughout the year to adjust operations to reflect market conditions and are positioning ourselves to return to
sustainable, profitable growth.” For the first quarter of 2023, Kornit expects revenues to be in the range of $47 million to $52 million.
Mr Samuel concluded: “In 2023 we will focus on three key areas including: returning to profitability; successfully launching the Apollo and scaling KornitX. We believe Kornit continues to be best positioned to lead the retail supply chain transformation of the fashion and textile industry, enabling us to meaningfully scale the business and achieve our long-term financial objectives.”
Roland DG TrueVIS VG3 and SG3 now approved for 3M MCS warranty program
R
oland DG’s TrueVIS VG3 and SG3 wide-format eco-solvent inkjet printer/ cutters with TR2 ink have been approved for the 3M MCS warranty program.
The 3M MCS warranty provides full, non-prorated protection for the intended life of each graphic, including fading, cracking, peeling and other aspects of graphic performance. The weathering technology and rigorous testing of ink and printer combinations that 3M stands behind with this warranty assures customers that the quality of their images will be maintained for the life of the print. VG3 and SG3 printer/ cutters and TR2 inks passed 3M’s stringent testing process which has earned a reputation for ensuring long-lasting
T durability and reliability.
Paul Willems, product management and business development director at Roland DG EMEA, said: “TrueVIS is a line of large-format inkjet printers featuring the extraordinary power to excite hearts and minds. The VG3/SG3 series with eco-solvent ink is highly acclaimed from graphics production professionals for its ability to print vivid, rich colors with high reproducibility. The support of the 3M MCS warranty program adds even greater peace of mind and confidence in reliability to our superior printing capabilities, enabling users to produce sign graphics with even higher value. We will continue to contribute to the expansion of our customers’ businesses around the world through TrueVIS.”
Dates confirmed for The Schoolwear Show 2023
he Schoolwear Show 2023 will take place on Sunday, October 8 and Monday, October 9 at Cranmore Park Conference and Event Centre in Solihull.
Regular exhibitors include One+All, Banner, William Turner, Gymphlex and David Luke. Expect to see new schoolwear garments and accessories on display ready for the back to school season. Organisers are looking to make a visit to the two-day exhibition even more
productive and worthwhile this year with the introduction of new features and networking opportunities.
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