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RANGE INTERNATIONAL LIMITED — Capital/Financing Update 2021
Oct 4, 2021
65662_rns_2021-10-04_be9693b3-80cc-47eb-9b6c-72fbd1ad17f6.pdf
Capital/Financing Update
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ASX Announcement 5 October 2021
LARGE NEW ORDERS FROM INDONESIAN DISTRIBUTOR
Range International Limited (ASX:RAN) ( Company or Range ) is pleased to announce that PT Jordan Trading and Consulting ( PT Jordan ), the Company’s best performing distributor based in Indonesia, has signed two new orders for a total value of IDR 9.111 billion (approx. AUD 876K). These new orders include the NP 1210 L pallet and the new Re>Pal C48 pallet and will be distributed to parties who have not utilised the Company’s pallets previously.
The pallets will be delivered over 27 months. The NP 1210L pallets will be delivered in Q4 2021. The new Re>Pal C48 pallets will be delivered commencing in Q1 2022 and continuing until Q4 2023.
By utilising the Company’s new insert design strategy for the Re>Pal C48 pallets, the Company has been able to offer PT Jordan a pallet that meets strict industry client requirements. The simplified design process means that the pallets can be made in a single mold, which reduces development costs for the Company. The budgeted mold cost is approximately AUD 120K. Accordingly, the Company anticipates that its margins per kilogram on the Re>Pal C48 pallets will be significantly higher, compared to its older pallet designs.
As noted above, PT Jordan is a key distribution partner in Indonesia and these transactions reflect the continued success of the commercial relationship. The Company continues to assess other opportunities, and the parties remain hopeful of making further announcements over the coming months.
Richard Jenkins, the Executive Chairman of Range said that " These new and significant orders from PT Jordan represent a valuable gain in market position for our Company as the end clients are new names who we would otherwise have difficulty accessing. Furthermore, the decision to locate our most senior executive in Indonesia is already paying dividends through deeper relationships with both important industry clients and product distributors.
In addition productivity gains in the factory will continue to drive the cost of production lower and the volume of production higher. "
This announcement has been approved for release by the Board.
About Range International:
Range is a manufacturer of plastic pallets, trading as Re>Pal™. Our ThermoFusion™ technology allows Re>Pal™ to make ‘zero waste’, 100% recycled and recyclable plastic.
Range currently has production lines operating in its East Java factory in Indonesia and sells its pallets under the brand Re>Pal™, supplying pallets into Indonesia and across Asia/ globally.
For more information about this announcement please contact:
Stephen Bowhill [email protected] or +61403852734 Richard Jenkins [email protected]
RANGE INTERNATIONAL LTD ACN 611 998 200 | Level 5, 126 Phillip Street Sydney, NSW 2000 | www.rangeinternational.com