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RANGE INTERNATIONAL LIMITED — Capital/Financing Update 2017
Mar 13, 2017
65662_rns_2017-03-13_c65ceaa9-5c61-4dbb-99fd-8e0a4bb6eb2f.pdf
Capital/Financing Update
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ASX Announcement
(ASX:RAN)
14 March 2017
Second production line operating in East Java
Range International Limited (‘Range’ or ‘Company’), manufacturer of Re>Pal™ pallets made from 100% recycled plastic, is pleased to announce the commencement of operation of its second production line at the Company’s Pasuruan factory in East Java, Indonesia.
The Company’s schedule for the installation of one new production line at the East Java factory every six weeks throughout 2017 remains on track. The Company will continue to inform the market as each new production line becomes operational.
The Company has decided to capitalise on the positive progress being made at the new East Java facility and move the two production lines currently operating at the Company’s Tabanan pilot plant, in Bali, to the East Java facility. Consolidating production in one central location, by moving the smaller subscale production lines currently operating at Tabanan to the larger more efficient East Java facility, will maximise the use of the East Java facility and the significantly improved operating environment it offers. Production volumes for the 2017 year will not be negatively impacted by this decision due to improved efficiencies once the 2 production lines have commenced production in Pasuruan.
Lars Amstrup
Managing Director/CEO
About Range International:
Range is a manufacturer of plastic pallets. Our ThermoFusion™ technology allows Range to make plastic pallets from 100% recycled mixed waste plastic at a price that is competitive with wood pallets. Range currently has four production lines operating in Indonesia and sells its pallets under the brand Re>Pal™. Range is scaling 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