The sales agreement signed by Nur Ink Innovations and the digital printer manufacturer is a multi-year agreement for the supply of a unique ink developed by the company
TEL AVIV, Israel, Aug. 7, 2023 /PRNewswire/ — Nur Ink Innovations Ltd. (TASE: NURI), which is engaged in the research and development of various types of water-based, green, and environmentally friendly pigment inks, is pleased to report that it has signed an agreement for the supply of ink with a European company that develops, manufactures, and markets digital printing systems for printing on various clothing items.
The water-based pigment ink set developed by the company in specific, was formulated in accordance to the client’s requirements, is an innovative ink that contains notable advantages for the client’s end users, such as exceptional resistance to abrasion in washing, high stability of the print heads – resulting in a lower need for routine printer maintenance, the possibility of printing directly onto nearly any type of fabric including dark polyester, while using a single printer, and a stretchability of over 500%, while maintaining lack of odor and non-stickiness of the printed fabric.
The ink that will be supplied to the client has received the two most important standards in the textile industry: the OekoTex Eco-Passport standard and the GOTS 7 standard.
The agreement is a long-term engagement of ink supply that includes ongoing supplies for the client’s ink procurement; the agreement includes an indicative expected forecast by the client as the basis for the company’s anticipated supply orders.
According to Mr. Moshe Nur, Chairman of the Board of Directors and CEO of the company: “This agreement is proof of the company’s research and development capabilities and of the innovation and uniqueness of the products we develop, and also an indubitable expression of confidence in Nur Ink as a global company that brings significant value to the world of digital printing. This is a long-term ink supply agreement that includes an ongoing supply of ink to the client – a European company that develops, manufactures, and markets digital textile printers worldwide.”
- Nur Ink Innovations presently estimates that given the agreed prices, the gross profit from ink sales to this client will be about 60%. This agreement includes an indicative expected forecast by the client as the basis for the company’s anticipated orders for delivery.
- Nur Ink Innovations is expected to supply a water-based pigment ink set that was developed in accordance with the client’s specific requirements; an innovative ink that contains notable advantages for the client’s end users, such as high stability of the print heads, resulting in lower need for printer maintenance, as well as the possibility of printing directly onto any type of fabric including dark polyester while using a single printer.
Mr. Moshe Nur, chairman of the board and CEO of the company, further added: “I am very proud to have reached this day, when we signed an agreement with one of the world’s leading manufacturers of digital textile printers. This agreement was signed after hard work with the client in order to develop a single and unique water-based pigment ink set that was specially formulated to the client’s requirements and to various models of printers produced by the client. The agreement is made under an OEM Private Label business model, where the printer manufacturer will market our ink as its own product. In parallel, we continue adjustments and pilot processes with several other printer manufacturers and expect to sign further commercial agreements such as the aforementioned agreement.
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SOURCE Nur Ink Innovations Ltd.