Sustainable manufacturer Range International (ASX: RAN) is improving their global footprint having secured Nestle Philippines as a new customer which has ordered 6,000 of Range’s sustainable pallets which are made from 100% recyclable plastic.
The pallets which are marketed as Range’s Re>Pal brand, have been gaining steady traction through 2020 where Range has received orders for more than 3,000 from a variety of customers however this Nestle order for 6,000 is Range’s single largest order to date, valued at USD $172,920.
“Nestle is a valued marquee client using the Re>Pal pallet and it is pleasing to see the Philippines’ client base embrace sustainability,” said Range Managing Director, Stephen Bowhill.
“As timber becomes scarcer, and as lumber prices increase, we hope to see increasing demand from Multi-National Companies in this region.
“We are pleased to see the larger companies focusing on not creating new plastic and using our 100% recycled plastic sustainable pallet is one of their contributions to this strategy.”
In 2019, Range recycled more than 5,800 tonnes of plastic for their Re>Pal pallets from their Indonesian facility.
Further highlighting the need for sustainable solutions like Re>Pal, the Indonesian Government has implemented a logging ban of primary forest which puts pressure on the supply of wood for pallets, pushing for plastic to become a preferred consumer choice in the South-East Asia region.
Other examples of international intervention to address sustainability issues solved by Range’s products include Britain’s planned tax on plastic packaging that is made from less than 30% recycled material and the Swedish Government tax on waste incineration.
Range owns the ThermoFusion™ technology used to make the pallets from 100% recycled mixed waste plastic where pallets are just one application of the tech.
RAN shares responded exceptionally well to news of Ranges’s Nestle contract, rising to a high of $0.028 in morning trade, a 64.7% rise on their previous $0.017 close.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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