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RANGE INTERNATIONAL LIMITED — Capital/Financing Update 2016
Sep 26, 2016
65662_rns_2016-09-26_358b0548-f375-424c-9d1c-78aaf72591b9.pdf
Capital/Financing Update
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ASX Announcement
27 September 2016
Range International on Track to Increase Production Capacity
Range International Limited (‘Range’ or ‘Company’), manufacturer of Re>Pal™ recycled plastic pallets, is pleased to announce it has ordered an additional 6 extrusion and press systems from Scott Technology Limited in New Zealand, for installation at the Company’s new factory site in Pasuruan, East Java in 2017.
In combination with the 2 production lines previously ordered, the total of 8 new lines, aligns with the Company’s 2017 target for new installed production capacity and will bring the Company’s total number of production lines to 10.
The equipment acquisition cost is in line with the equipment cost outlined in Range’s recent prospectus.
Range International CEO Lars Amstrup said:
‘We are very pleased to confirm the ordering of this new batch of production equipment, for installation at our new East Java factory.
These are critical pieces on our path to transition to commercial scale production.’
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