Amiad Water Systems Ltd New five-year agreement with Netafim (0337Q)

TIDMAFS

RNS Number : 0337Q

Amiad Water Systems Ltd

16 June 2020

16 June 2020

Amiad Water Systems Ltd.

("Amiad" or the "Company")

Amiad signs new five-year distribution agreement with Netafim

One of the world's largest providers of irrigation systems to globally distribute Amiad's solutions

Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, announces that it has signed a new five-year global distribution agreement with Netafim, the global leader in precision irrigation solutions, for the Company's disc filtration products for the irrigation market. This new agreement extends the existing long-term strategic relationship between the two companies.

Netafim is a leading manufacturer and distributer of precision irrigation solutions and the world's largest irrigation company. Under the terms of the new agreement, which commences 1 January 2021 (following the expiry of the current agreement at the end of this year), Netafim will have exclusive distribution rights to Amiad's well known disc filtration products in the irrigation market globally and to Amiad's screen filtration products in the Netherlands, subject to continuing to meet certain sales thresholds.

This agreement provides Amiad with continued access to Netafim's extensive distribution network, covering over 110 countries, which represents an important contributor to the Company's sales in the irrigation market.

Dori Ivzori, Chief Executive Officer of Amiad, said: "We have been working with Netafim for many years and we are delighted to be extending our collaboration and mutual commitment. Netafim's leading position within the market and extensive global network make them an excellent partner and channel for the marketing of our existing products as well as for the launch of new products. Netafim is a strategic partner for Amiad and we look forward to continuing to be a part of enhancing their offering to their customers for improved irrigation system performance."

Gaby Miodownik, Netafim's Chief Executive Officer, added: "We have always strived to provide farmers with the best technology and solutions to irrigate their crops efficiently. The renewal of the agreement with Amiad is a vote of confidence in their disc filtration technology and the value it can bring to our customers."

Enquiries

 
 Amiad Water Systems Ltd. 
 Dori Ivzori, Chief Executive 
  Officer 
  Avishay Afriat, Chief Financial 
  Officer                            [phone] 
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 Stifel Nicolaus Europe Ltd. 
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 Stewart Wallace, Ben Maddison       [phone] 
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 Luther Pendragon 
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 Harry Chathli, Claire Norbury       [phone] 
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About Amiad

Amiad Water Systems (AIM: AFS) is a leading global producer of automatic, self-cleaning water treatment and filtration products and systems. Through its engineering skills and ability to innovate, Amiad provides cost-effective "green" solutions for irrigation and industrial purposes. In these markets, its unique and high-quality products are being integrated into the core of systems for filtration and water treatment, micro irrigation and membrane protection, wastewater and potable water treatment, cooling systems and sea water filtration. Headquartered in Israel, Amiad provides these solutions through ten subsidiaries and a comprehensive network of distributors to customers in more than 80 countries.

FIMI Opportunity Funds, the leading private equity investor in Israel, is a controlling shareholder of Amiad, with an interest in 39.6% of the Company's outstanding issued share capital.

For additional information or product details, please visit www.amiad.com .

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June 16, 2020 02:00 ET (06:00 GMT)