K.B. Recycling Industries Ltd., conducting business as Alkemy announced the appointment of Mr. Arnon Eshed as a member of the Company's Board of Directors effective March 3, 2022. Mr. Eshed has more than 30 years of experience in the plastic industry. Mr. Eshed is an experienced businessman and manager and has served in different roles within the industry, including as chief executive officer, of Palram (1990) Industries Ltd. (PLRM.TA), a leading Israeli company in the field of thermoplastic technology with an international presence.

Since 2015, Mr. Eshed has served as the Chairman of the Board of Palram. Palram is traded on the Tel-Aviv Stock Exchange with a market cap of approx. USD 375 million.

Mr. Eshed has also served as the Chairman of the Board of Haogenplast Ltd., an Israeli company leading in the development and manufacture of premium VINYL products.