Business

The merged company will have unparalleled market coverage with 18 factories around the world and 1,800 employees across 5 continents and 30 countries. Growers around the world will benefit from an extensive product and solution offering, consisting of trusted industry brands such as T-Tape™, Ro-Drip™, Hydrogol™, D5000, Eolos™, Compact™, PC2™ and Olympos™. The merged company will be headquartered in Gvat, Israel and will be named Rivulis Irrigation, Ltd. Richard Klapholz, the current CEO of Rivulis Irrigation, will lead the merged company.

The company will continue to support both the Rivulis and

Eurodrip brands, and will remain strongly committed to its mission of providing continuous innovation, and strong service to help growers to optimize yields sustainably and economically while addressing water and land scarcity.

Goals

Richard Klapholz, Rivulis Irrigation CEO, commented on the merger:“ We are thrilled to have these two leading companies join forces to better serve the growing needs of the irrigation markets around the world. While benefitting from significant operational economies of scale, we will ensure that all commitments to our distribution business partners are maintained and further strengthened.

“ Our goal is to ensure that our business partners will continue to be successful with the products and solutions of both companies – but now with a wider offering and stronger manufacturing base. I am looking forward to working closely with the Eurodrip teams around the world and I am certain that we will all benefit from their vast experience and their continued commitment and dedication.”

Peter Berweger, Eurodrip Group CEO, added:“ It has been a great honour for me to lead the Eurodrip Group over the past years and into this merger. With this transaction, we bring together two excellent micro irrigation businesses with complementary capabilities, and we are offering growers more choice and a wider product range to save water and enhance yield. The combined entity will have a truly global presence in all relevant irrigation markets, enabling strategic global growth and innovation that will benefit all stakeholders.”

Gillon Beck, the merged company’ s chairman, summarized:“ The Rivulis management team has proven its turnaround skills in an astounding manner in the last two and a half years. Strengthened by the talent of the Eurodrip management, employees and owners, the joint team can now focus on a different type of development: merging the two companies into one efficient, market oriented, innovative and profitable global entity. With the help and long-time experience of our co-owners, I am confident in the company’ s success in this new phase and in its ability to assume a leadership role in the industry.”

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