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MYECO GROUP LTD — Capital/Financing Update 2014
Dec 18, 2014
65304_rns_2014-12-18_42ae1cf8-70f1-4728-8927-4efab148e130.pdf
Capital/Financing Update
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FOR IMMEDIATE RELEASE
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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 19 December 2014
$150,000 orders of Cardia Bioplastics dog bags received from US and European Retailers
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Cardia Bioplastics Limited (ASX: CNN) is pleased to announce that it has received $150,000 orders for its sustainable dog waste bags. The dog waste bags are being produced on Cardia’s expanded manufacturing operations of six new film extrusion and bag making lines in its new purpose built factory in Nanjing, China.
The new film extrusion and bag making equipment doubles both Biohybrid™and Compostable bag making capacity to over 250 million bags per year, to meet further increased orders from major USA and European retailers for organic waste management bags. With increasing number of Councils around the globe using Cardia compostable waste management products the new factory has been running to full capacity from the start.
The Cardia Bioplastics new factory in Nanjing China, manufactures a range of Compostable and Biohybrid™ bags, films and custom products for well-known retailers, brand owners and councils around the world.
Please find attached the media release.
Richard Tegoni Chairman Cardia Bioplastics Limited
MEDIA RELEASE
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19 December 2014
For Immediate Release
$150,000 orders of Cardia Bioplastics dog bags received from US and European Retailers
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Cardia Bioplastics implements expansion of its film and bag production at its new purpose built factory in Nanjing, China
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Set up of six new film extrusion and bag making lines to meet further increased orders including orders from USA and European retailers for organic waste management bags
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Doubles both Biohybrid™and Compostable bag making capacity to over 250 million bags per year
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First $150,000 orders of dog bags received from US and European Retailers
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Expanded film extrusion and bag making capacity fully utilised due to growing global demand for Cardia Bioplastics products
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Cardia Bioplastics implements expansion of film and bag production in China
Australian headquartered Cardia Bioplastics Limited (ASX: CNN) is pleased to announce that it has received $150,000 orders for its sustainable dog waste bags. The dog waste bags are being produced on Cardia’s expanded manufacturing operations of six new film extrusion and bag making lines in its new purpose built factory in Nanjing, China.
The new film extrusion and bag making equipment doubles both Biohybrid™and Compostable bag making capacity to over 250 million bags per year, to meet further increased orders from major USA and European retailers for organic waste management bags. With increasing number of Councils around the globe using Cardia compostable waste management products the new factory has been running to full capacity from the start.
Cardia Bioplastics China General Manager, Jackie Chen stated, “We are delighted with the expansion of our film and bag production. Our new purpose built factory in Nanjing has doubled our annual production capacity to 250 million bags, enabling us to deliver the continually increasing orders and further grow our
business. We have received large orders from US and European Retailers who are keen to stock our Compostable and Biohybrid™dog waste bags.”
Cardia Bioplastics Managing Director Dr. Frank Glatz stated, “The move to the new factory and expansion of film extrusion and bag making has been well timed, with the growing demand for sustainable bags and products with a lower carbon footprint, driven by consumers, brand owners, governments and councils our Compostable and Biohybrid™bags and films are in demand as the quality sustainable solution.” Dr Glatz continues, “Following the success of Interzoo 2014 trade fair, we committed to the purchase of six additional new film extrusion and bag making lines. With these production lines in full operation, we are well positioned to meet further increased orders.”
The Cardia Bioplastics new factory in Nanjing China, manufactures a range of Compostable and Biohybrid™ bags, films and custom products for well-known retailers, brand owners and councils around the world.
About Cardia Bioplastics
Cardia Bioplastics Limited (ASX CODE: CNN) develops, manufactures and markets its patented renewable resourcebased materials and finished products derived from Cardia’s proprietary technology for the global packaging and plastic products industries. The company holds a strong patent portfolio and its growth is fuelled by the global trend towards sustainable packaging. Established in Australia in 2002, the company Headquarters and Global Application Development Centre is in Melbourne, Australia. Cardia Bioplastics’ Product Development Centre and manufacturing plant for resins is in Nanjing, China. Cardia’s manufacturing plants for film and bag products are in Nanjing, China and São Paulo, Brazil with further offices in Australia, China, USA, Brazil and Malaysia, and a network of leading distributors across the Americas, Asia and Europe. Visit www.cardiabioplastics.com
Further information:
Nadya Krienke-Becker Dr Frank Glatz Mr Jackie Chan Global Head of Marketing Managing Director General Manager Cardia Bioplastics Cardia Bioplastics Cardia Bioplastics China +61 414 672 863 +61 400 930 530 +86 138 1453 1665 [email protected] [email protected] [email protected]