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RANGE INTERNATIONAL LIMITED — Capital/Financing Update 2016
Oct 6, 2016
65662_rns_2016-10-06_47a0c38d-425c-4af6-9d40-fcd89c2627f3.pdf
Capital/Financing Update
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ASX Announcement
ASX:RAN
7 October 2016
Range International on Track to Increase Production Capacity
Range International Limited (Range/Company) is pleased to announce that it has ordered the raw material preparation systems needed to feed the 8 extrusion and press lines in Range’s new factory in Pasuruan, East Java.
The acquisition cost of the material preparation equipment is in line with the costs outlined in Range’s recent Prospectus.
Range International Managing Director and CEO Lars Amstrup said:
‘This order of preparation systems combined with our previous orders of extrusion and press systems detailed in our announcement to the ASX on 27 September 2016 are critical pieces on our path to transition to commercial scale production and to meeting our target of taking production capacity to 10 lines by the end of 2017.’
Lars Amstrup Managing Director/CEO
About Range International:
Range is a manufacturer of plastic pallets. It has developed the ThermoFusion™ technology that allows it to make plastic pallets from 100% recycled mixed waste plastic at a price that is competitive with wood pallets. It currently has two production lines operating at its factory in Bali, Indonesia and sells its pallets under the brand Re>Pal™. Range intends to scale up its operations in Indonesia. In the medium term, the Company’s goal is to establish a global production footprint and sales distribution network.
Media: [email protected] Investor Relations: [email protected]
RANGE INTERNATIONAL LTD ACN 611 998 200 | Level 5, 134 William Street East Sydney, NSW 2010 | www.rangeinternational.com