SodaStream Announces the Groundbreaking of a New Primary Manufacturing Facility Additional new secondary production site already active
AIRPORT CITY, Israel, July 6, 2011 /PRNewswire/ -- SodaStream International Ltd. (NASDAQ: SODA), a leading manufacturer and distributor of home beverage carbonation systems, today announced that on Wednesday, July 6th, the Company will break ground on a new 850,000 square-foot manufacturing facility in Israel. The new primary site is expected to go live during 2013 at an approximate cost of euro 30 million. This state-of-the-art facility will be the anchor project of a new industrial park near the southern town of Beersheba. Attendees expected at the groundbreaking include Silvan Shalom, Vice Prime Minister of Israel, along with other members of the government.
"The demand for our products is increasing, and we continue to take steps to ensure that we are ahead of capacity to meet that demand," stated Daniel Birnbaum, CEO of SodaStream. "SodaStream is deeply grateful for the cooperation from the government of the State of Israel. We look forward to leveraging the outstanding engineering talent here, the free trade agreements with the EU and North America, and to providing thousands of new jobs as our business continues to grow."
SodaStream currently has 13 production facilities worldwide, including a new one in the Galilee town of Alon Tavor that went live on June 26th, 2011, four weeks ahead of schedule. This facility is already manufacturing a full range of soda-makers and related products for markets such as France, Sweden, Switzerland and the US. Additional machinery will be added to another Galilee site in Kiryat Shemona later this summer. Both facilities are intended to bridge capacity needs while the primary facility is under construction.
"SodaStream is a symbol of Israeli innovation and creativity," stated Vice Prime Minister Silvan Shalom. "The Company's choice to build here is a declaration of confidence in the strength and stability of Israel's economy. This is a meaningful step in the development of the Negev region, which is rich in high-quality human capital, and we invite other companies to join SodaStream and take advantage of the infrastructure and growth opportunity in the Negev."
SodaStream manufactures home beverage carbonation systems, which enable consumers to easily transform ordinary tap water instantly into carbonated soft drinks and sparkling water. Soda makers offer a highly differentiated and innovative solution to consumers of bottled and canned carbonated soft drinks and sparkling water. Our products are environmentally friendly, cost effective, promote health and wellness, and are customizable and fun to use. In addition, our products offer convenience by eliminating the need to carry bottles home from the supermarket, to store bottles at home or to regularly dispose of empty bottles. Our products are available at more than 40,000 retail stores in 41 countries around the world. For more information on SodaStream, please visit the Company's website: www.sodastream.com.
Forward Looking Statement
This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on management's current beliefs and expectations and involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our ability to expand into our target markets, including the United States; our ability to continue to develop or maintain our presence in retail networks; our ability to develop and implement production and operating infrastructure to effectively support our growth; the success of our marketing campaigns and media spending in terms of increased sales or increased product and brand name awareness; our ability to maintain our customer base in markets where we have an established presence; the risks associated with our reliance on exclusive arrangements for the distribution of our home beverage carbonation systems and consumables in each of the markets in which we use third-party distributors; our ability to compete effectively with other companies which currently offer, or may offer in the future, competing products; potential product liability claims if any component of our home beverage carbonation systems is misused; our ability to protect our intellectual property rights; our being found to have a dominant position in certain markets which may place limits on our ability operate; risks associated with our being subject to fluctuations in currency exchange rates; our potential exposure to greater than anticipated tax liabilities; our products being subject to extensive governmental regulation in the markets in which we operate; adverse conditions in the global economy which could negatively impact our customers' demand for our products; and other factors detailed in documents we file from time to time with the United States Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
Corporate Development and Communication
SOURCE SodaStream International Ltd.