CEO, Caesarstone
Caesarstone Trades on Nasdaq
Caesarstone Sdot-Yam Ltd. is a publicly traded company on the NASDAQ (NASDAQ:CSTE): http://ir.caesarstone.com/
On March 22, 2012 at Time Square NY, Caesarstone rang the opening bell, and celebrated its IPO and first day of trading on the NASDAQ stock market.
Mr.Yos Shiran, CEO of Caesarstone, describes the company's aspirations for the upcoming future. Learn more at: http://ir.caesarstone.com/
About Yos Shiran
Yos Shiran, CEO of Caesarstone, has described the company as a pioneer in the quartz surface industry, stating that the company invented the quartz surface in 1987 and has since led a "material conversion story" in which surfaces like granite, marble, and laminate have been replaced by quartz. In a 2016 press preview in Milan, Shiran said the company operates in over 50 countries and has annual revenues of around $500 million, and that it is traded on the NASDAQ. During the same event, he discussed a collaboration with designer Tom Dixon called "The Restaurant," a multi-sensory experience featuring four conceptual kitchens inspired by the elements Earth, Fire, Water, and Air, which was presented during Milan Design Week 2016. In earlier appearances, Shiran discussed the company's 2012 IPO on the NASDAQ, which he described as a strategic move to improve access to cash for growth and investment. He noted that the company opened a plant in the United States to be closer to its main market, and that it had the ability to expand that facility in Georgia. Shiran also characterized the quartz business as benefiting from a "material conversion story," suggesting that such companies may perform better in difficult economic times when a better product replaces inferior ones.
Transcript (5 segments)
A
Assaf Homosani0:26
Good morning everyone, shalom. My name is Assaf Homosani and I'm a managing director with the Nasdaq Stock Market. Today it's my honor and privilege to welcome Caesarstone to the market side to ring the opening bell and celebrate its IPO and first day of trading on the Nasdaq Stock Market. I would also like to extend a warm welcome to the CEO Yos Shiran, distinguished members of the management and the board, and the guests who joined us here today. At this point, I would like to introduce David Wicks, Vice President with the Nasdaq Stock Market, for additional remarks. David, please.
D
David Wicks1:04
Thank you, Assaf. Well, good morning everyone. It is truly my great pleasure to welcome Caesarstone and Chief Executive Officer Mr. Yos Shiran. Let me also extend a warm welcome to members of the management team, board members, family members, and all our distinguished guests. We are truly excited that you could all join us right here from the crossroads of the world in Times Square, New York, as we get set to ring today's opening bell. Now, we're here to celebrate Caesarstone's IPO and its first day of trading under the ticker symbol CSTE. I also want to highlight that this year marked Caesarstone's 25-year anniversary since its founding. These are two amazing milestones, and we're so excited that we could be part of these celebrations. Now, before we kick off today's ceremony with a round of applause, I just want to remind everyone of a little fact, and that is including all of our friends that are watching back in Israel, California, and all across the country, and our guests in the studio today, and that is the louder everyone claps and cheers, the more Caesarstone stock will go up today. So let's give it a try and give a round of applause. It's going to be a good day. Caesarstone manufactures and sells engineered quartz surfaces under the Caesarstone brand. Its products consist of engineered quartz slabs which are used in kitchen countertops as well as other applications including vanity tops, wall panels, backsplashes, floor tiles, stairs, and other interior surfaces in various residential and non-residential applications. And when we look at Caesarstone, we see a company that values technology, utilizing state-of-the-art production sites. We see a company that values innovation. It was an early pioneer in the natural quartz surfaces market. We see a company that values growth. In 2011 alone, Caesarstone posted an adjusted net profit of 34.8 million on revenue of 260 million. And lastly, we see a company that is truly a pioneer. Caesarstone is the first IPO of a kibbutz in Israel company to come to the U.S. market since 2005. Now, I know that back on the kibbutz everyone is watching, so a very special welcome to you all, and I hope that you all were clapping with us here in New York. And we recognize that there are many more innovative, global, and inspiring companies in Israel, some of which are founded and operated by other kibbutzim, and we look forward to welcoming these companies to the Nasdaq family in the future. Yos, congratulations to you and your team on your continued success, and we look forward to celebrating many more milestones with Caesarstone in the decades to come. Now, please join me in welcoming the Chief Executive Officer of Caesarstone, Mr. Yos Shiran.
Y
Yos Shiran4:26
It's really an honor for all of us at Caesarstone to be here today to officially begin trading on the Nasdaq market. We have big aspirations, particularly here in the United States. We were founded on innovation in 1987. We pioneered the processes and the technology that enabled engineered quartz to become a superior building material. We have grown very fast since then and are now in over 40 countries around the world. While we have come a long way, we believe it's very clear that our biggest opportunities and our best days are still in front of us. This makes the Nasdaq the right home for us. Caesarstone has become a leader in the industry it pioneered, and with the capital raised in this offering, we are positioned to further extend our reach and our leadership. This is what great markets do for those companies that have the capability and the drive to be true leaders. As we look at what lies ahead for our company, we see tremendous promise. I would like to extend our sincerest thanks to those investors who recognized us as a promising investment and helped us complete our initial public offering. As we ring this bell this morning, we look forward to a bright future for Caesarstone, its shareholders, and for the Nasdaq market. Thank you very much.
D
David Wicks6:07
We are so proud to welcome Caesarstone to our family. We know you're going to be back here to celebrate many more milestones, but this morning I'd like to present you with the opening bell crystal. Congratulations.
Y
Yos Shiran6:16
Very nice, thank you.