Maytronics
Found 10 recent publications
Maytronics Recalls Nia Pool Cleaner as Stock Plunges Amid Deep Financial Crisis
Maytronics recalled its new Nia pool cleaner due to short-circuit risks, causing its stock to crash and wiping out one billion shekels in value for Kibbutz Yizrael amid an ongoing financial crisis.
Maytronics Recalls Niya Aquasweep S10 Pool Cleaner Over Fire Hazard
Maytronics issued a voluntary recall for the Niya Aquasweep S10 cordless pool cleaner due to a casing defect posing a fire hazard. Owners are urged to stop use immediately.
With such weak performance, it is no wonder that the Kibbutz Yizre'el company is looking for a lifeline
Maytronics ended the second quarter with a decrease in revenue alongside a transition to a loss of about 8 million shekels. While it is holding talks for investment from the FIMI fund, the company announced an additional efficiency plan that will help it meet its obligations.
Maytronics recorded a loss of 8 million shekels in the second quarter, sales hit by the strengthening of the shekel
Maytronics continues to experience a decline in sales, but excluding currency exchange rates, it seems that they have stabilized slightly. The company recorded a net loss of 8 million shekels in Q2.
With a 33% jump: This was the hottest stock of the week on the stock exchange
The battered stock of the kibbutz-owned company led the Tel Aviv Stock Exchange last week with a jump of 33.65%, after confirming initial contacts for an investment by the FIMI fund. The jump returned the company's value to about 250 million shekels - a recovery from the low recorded below 200 million, but still around an all-time low and below equity. What is behind the jump, and where can it go...
The dilemma of the 300 members of Kibbutz Yizre'el and the talk in the dining hall about the fall of Maytronics
The company, owned by Kibbutz Yizre'el, which gained awareness in Israel and the world thanks to swimming pool cleaning robots, is in the biggest crisis in its history. After reaching a peak value of about 9 billion shekels, its value is now estimated at less than 300 million shekels. The FIMI fund is in talks to invest in the company. A kibbutz member told Globes: "It hurts our pride, but we knew...
Ahead of trading: The giant that soared by 38% and oil returning to worry investors
Tel Aviv closed in the red as Mizrahi Tefahot disappointed and dragged the banks down, but Maytronics surged on reports of talks for FIMI to enter. On Wall Street, oil jumped and yields are at a 19-year high. What is expected today?
Maytronics confirms talks to sell control to FIMI and raise 300 million shekels
Maytronics has officially confirmed reports regarding negotiations to raise 300 million shekels in capital and a potential sale of control to the FIMI fund. The move aims to reduce the company's 600 million shekel debt and restructure its production operations.
Kibbutz Yizre'el ready to give up control of Maytronics, FIMI in talks
Kibbutz Yizre'el is seeking a 300 million shekel investment to rescue pool cleaning robot manufacturer Maytronics. The FIMI fund is currently in negotiations to acquire a controlling stake.
A massive stock market crash: Maytronics shares collapse 98% to a 15-year low
The pool cleaning robot manufacturer from Kibbutz Yizre'el, once valued at over 9 billion shekels, has fallen below a 200 million shekel valuation for the first time in 15 years. We examine what went wrong and why a recovery remains elusive.