Ronin Investments Managing Co. takes major stake in AVT
FEBRUARY 19, 2008--Ronin Investments Managing Company (Tel Aviv, Israel) has acquired close to 25% of Advanced Vision Technology (AVT; Hod Hasharon, Israel) shares.
FEBRUARY 19, 2008--Ronin Investments Managing Company (Tel Aviv, Israel), a private investment company, has acquired close to 25% of Advanced Vision Technology (AVT; Hod Hasharon, Israel; www.avt-inc.com/) shares. Ronin, managed by Nurit Nahum, acquired the shares at the Frankfurt Stock Exchange, where AVT is listed with a market value of approximately US$80 million. AVT is a developer of machine-vision-based process-control and quality assurance solutions for the printing industry.
Ronin was impressed by AVT's achievements and results and by the potential inherent in the company and its management. AVT has been managed for 10 years by Shlomo Amir.
AVT ended 2007 with an increase of 40% of revenues to US$ 39.9 million, compared to revenues of US$ 28.5 million in 2006. AVT credits its growth in revenues to good market conditions in 2007 that led to an increase in its packaging and label-printing business. AVT's net income registered in 2007 increased by 23% to US$ 6.66 million. The company's flagship product is the PrintVision/Jupiter, a machine vision-based process-control and quality-assurance solution that automatically identifies print defects in a range of printing technologies. The system replaces the need for a human operator's judgment to visually supervise the print quality.
In the label printing market, AVT developed the PrintVision/Helios, an automatic system for quality assurance, inspecting the whole printing process. The system can be integrated on to the printing press for print process control, or on a rewinder, for quality control at the end of the label converting process.