September 1st, 2024

We are thrilled to announce that Plastics App & Kafrit group had signed a strategic cooperation agreement creating significant value added to both companies. According to agreement, kafrit will acquire 51% of Plastics App shares, and Dr. Yanir Shaked, the founder and living spirit of the company will continue to lead the company as CEO & Chief R&D, the same as he did until now.

Plastics App is a pioneering compounding innovation lab, specializing in R&D of complex technologies & processes for start-ups and well-established companies. Plastics App, located in Megiddo Israel, was founded in 2014 service customers across the plastics industry and beyond. It’s expertise include compounding, Injection Molding, Sheet & Film Extrusion and 3D printing all supported by an advanced lab. Kafrit is a global market leader in the field of masterbatches & compounds to the plastics industry. Founded in Kfar Aza 50 years ago, employing 800 employees and doing sales in 70 countries through it’s 9 subsidiaries and traded in the TASE.

This cooperation will enable Plastics App to expand it’s customer base and elaborate it’s offering from early stage developments to realization of large scale production, where Kafrit will pour in it’s value. Moreover, this cooperation will enable Kafrit to add know-how and knowledge in futuristic projects, enter new fields and give better service to it’s customers in Israel and abroad. Strengthening the technological expertise, and offer innovative solutions is the keystone in Kafrit’s strategic plan as can be already seen in current cooperations with academia, suppliers, and investments in startup technologies.

Nadav Goldstein, SVP of business development & Innovation who was murdered on October 7th seeded this cooperation with Yanir months before his death as part of the strategic masterplan of Kafrit to unite talent & technology. Bringing this process to completion is part of his legacy and we are all very proud to do so and continue the way he paved for both companies, now together.

Plastics App, Dr. Yanir Shaked & his dedicated and professional team, continue to act independently and serve it’s customers in the best possible way.