Shamir Optical Industry

Shamir Optical Industry Ltd. is an international company that develops and manufactures optical lenses. Its main activities are located in Shamir, Israel.^[1]

The company was established in 1972 as a manufacturer of Bifocals, and then began producing single-vision, and progressive lenses, and glass molds.^[2]

In 2005, the company issued dual listings, on the Tel Aviv Stock Exchange and Nasdaq, thus becoming the first company from the kibbutz industry to be listed on Nasdaq.^[3]

The company currently employs about 2,200 people in 23 laboratories and subsidiaries around the world. In 2011, the French optics company Essilor bought 50% of Shamir, which once again became a private company.^[4]

History[edit]

The optics factory was established in Shamir, Israel to meet the need of kibbutz members for non-agricultural work by introducing an additional manufacturing industry option. To this end, the kibbutz signed an agreement with the American company "KMS Industries" (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 Ltdwas established, and the kibbutz optics factory for the production of bi-focal lenses was inaugurated by Pinchas Sapir, Ministry of Trade and Industry.^[2]

in 1979, Seven years later,the company expanded its production and started manufacturing progressive lenses in addition to its existing line of lenses. 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.^[8]

In 1991, 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.^[9]

In 2001, the company inaugurated a production line together with its partner, Eyal Optical Industries, thus expanding its activities in the production of plastic lenses. A year later, the company increased its standing in Europe with its acquisition in 2002 of the Portuguese manufacturing optics laboratories as part of a partnership with Altra Optic GmbH.

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, thus 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][10]

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.^[11]

In 2011, the company merged with the French optics company Essilor. The merger was carried out through the purchase of 37% of shares from the public and another 13% of shares from Shamir Optical Industry [LD1] Ltd., totaling 50% of the company, for $130 million.Upon completion of the merger, Shamir was delisted from Nasdaq and became a private company.^[12]

. At the same year, t 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 – Israel Institute of Technology, and requested restraining order against them to prevent future use of its alleged intellectual property.^[13]

In February 2020, the company signed a cooperation agreement with Paris Miki"(ja), the largest optical company in Japan, with a commitment to provide the customers of the Japanese company with customized lenses within 24 hours. The lenses will be manufactured in the InoTime laboratory developed in Israel and established in Tokyo with an investment of $2 million.^[14]

The company has additional InoTime laboratories with the same quick-turnaround production methods operating in New Zealand, Singapore, Italy, France, Canada and two additional laboratories in Portugal.^[15]

In April 2020, the company launched its Anti-Fog technology, designed to prevent steam from forming on the glasses of those wearing a mask as a means of protection against the Coronavirus disease 2019. The company offered the technology for free to medical teams in need.^[16]

Additional activities[edit]

Shamir Optical Industry sponsors the Israeli athlete Hanna Knyazyeva-Minenko, who represents Israel in the long jump and triple jump and is scheduled to compete in the Olympic Games Tokyo 2020 - The Official Video Game Olympics.^[17]

In October of 2020, Shamir, together with the List of diplomatic missions of Israel Embassy in Portugal, began operating a mobile laboratory, which provided vision tests for Portugal's senior citizens. The mobile laboratory intends to perform vision tests in nursing homes throughout the country, and to meet the needs of elderly citizens who fear being exposed to the virus outside their nursing homes during the COVID-19 pandemic.^[18]

Further Reading[edit]

• Shamir, Israel
• Multifocal intraocular lens at Wikipedia (en).
• The Millions of dollars Exit of Kibbuts Shamir at Channel12 (He).

References[edit]

External links[edit]

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