February 21, 2023

SMARTECH to Deliver Four Additional SMARTWAX Systems to EGGER, a Global Leader in Wood Panel Industry to Reduce Wax Use

Caesarea, 21 February 2023

SMARTECH, a pioneering hi-tech company that develops innovative engineered systems to reduce raw materials use, is proud to announce that they have received a new order from EGGER Group to deliver four additional SMARTWAX Systems in 2023 with an option for four supplementary systems in 2024.

This order continues the long-running relationship between the two companies. EGGER currently operates several SMARTWAX Systems at select facilities in Europe.

SMARTWAX is SMARTECH's patented and renowned in-line wax suspension solution that dramatically reduces the use of wax in the manufacturing of wood products and provides exceptional cost savings to manufacturers.

With installations in wood panel mills around the globe, SMARTWAX drives a step-change reduction in production costs while enhancing the product quality. SMARTWAX Systems are easy to install and operate, and result in unprecedented cost savings allowing a quick ROI (return on investment) to the manufacturer.

In addition to growing panel demand worldwide, over the last few years, wood-based panel manufacturers have faced turbulent wax and resin pricing and SMARTECH is glad to play a key role in mitigating this risk.

Hans Prettner, VP APAC and Europe said: "We are grateful to the EGGER Group for choosing our SMARTWAX Systems again and for the excellent cooperation we have had with them throughout the entire process. We are excited to see the positive impact that these new units will have on their operations and we look forward to a busy and fruitful 2023 and 2024.

"Hanoch Magid, CEO of SMARTECH said: "We strongly believe that this is a big win for both sides and we are really happy to deepen our engagement with a storied manufacturer like EGGER. We are looking forward to serve more wood-based panel manufacturers with our industry renowned technology and our new AI-based breakthrough Autonomous Manufacturing solution. We are committed to deliver the best outcome to our customers and are looking forward to work together for many years to come."

About SMARTECH, Manewfacturing™ Technologies

SMARTECH is a pioneering hi-tech company that provides game-changing technologies to the global manufacturing industry. SMARTECH revolutionizes traditional manufacturing by reducing raw materials use and unleashing the latent potential of data, and helps industries upgrade their plants to smart factories by transforming existing production lines into high-performing, autonomous, data-driven and sustainable assets. SMARTECH is headquartered in Israel, with a presence in the USA, Canada, Europe, Asia and Latin America.

About EGGER Group

The family company, founded in 1961, employs approximately 11,100 people. At 21 plants worldwide, they produce an extensive product range of wood-based materials (chipboards, OSB and MDF boards) as well as timber. The company generated a turnover of EUR 4.23 billion in the 2021/2022 business year and has worldwide customers in the furniture industry, wood and flooring retailers, as well as DIY markets. EGGER products are found in countless areas of private and public life, including kitchens, bathrooms, bedrooms, offices, hotels and shops. EGGER is a full-range supplier for the furniture industry, interior design, wood construction and wood-based flooring industries.

For media and press inquiries, please contact:

Ms. Nathalie Vaknin, VP Marketing

Email: nathalie.vaknin@smartech.com

Phone: +972 54 760 7024

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