- Zero- waste plastic pallets manufacturer Range International (RAN) shares have soared after receiving a US$127,929 (around A$179,000) order from Nestle Philippines
- Range creates 100 per cent recycled and recyclable plastic pallets, which are sold under the name Re>Pal
- Nestle Philippines has purchased a further 6000 HD pallets, which will be its fifth-order for Range's products during this year
- The purchases are part of Nestle's plan to greener future with the aim to use more recycled and reusable materials by 2025
- On the market today, Range is up 41.2 per cent and is trading for 2.4 cents per share
Zero- waste plastic pallets manufacturer Range International (RAN) shares soar after receiving a US$127,929 (around A$179,000) order from Nestle Philippines.
Range's pallets are made from 100 per cent waste plastic using its unique ThermoFusion technology process. The products are sold under the name Re>Pal.
Nestle has purchased a further 6000 HD pallets, which will be its fifth-order for Range's products throughout the year. In total, Nestle has purchased around US$297,000 (nearly A$417,000) worth of pallets this year.
Today's order will be delivered throughout the fourth quarter of 2020, with a small number of products delivered in January 2021.
By 2025, Nestle aims to include as much recycled and recyclable materials as possible. They wanted to extend this aim to pallets- where they used a mix of timber and virgin plastic pallets.
Due to this and Range's 100 per cent recycled plastic in its pallets, the companies collaborated.
Range modified its HD pallet for Nestle and created the HD1210L. This pallet is now successfully working in Indonesia and the HD1210 pallet is expanding into the Philippines.
There are many different types of pallets globally and companies use them for different reasons. Usually, they are used for exporting, logistics and warehousing.
Nestle's HD1210L pallet is a heavy duty long life warehouse pallet and can be used for lifting, stacking and racking.
"Nestle is committed to driving its business to a more sustainable future," Nestle Philippines Managing Director Kais Marzouki said.
"Re>Pal’s product is a strong combination of durability, quality and sustainability resulting in excellent value for our business over the product life, with the knowledge that we are helping in the re-use of waste plastics," Kais said.
Range Managing Director, Stephen Bowhill, is pleased to see the Philippines client base embrace sustainability.
"As timber becomes scarcer, and as lumber prices increase, we hope to see increasing demand from Multi-National Companies in this region. We are delighted with Nestle’s commitment to Re>Pal and look forward to further orders from Nestle Philippines," he said.
"We are pleased to see the larger companies focusing on not creating new plastic and using our 100 per cent recycled plastic sustainable pallet is one of their contributions to this strategy," he added.
On the market today, Range is up 41.2 per cent and is trading for 2.4 cents per share at 12:41 pm AEDT.