Join our daily newsletter At The Bell to receive exclusive market insights
- Following the high demand of its hand sanitiser, The Food Revolution Group (FOD) has delivered its first batch to the market
- Delivery to major supermarkets and other retailers is scheduled for later this month
- Currently, orders have already exceeded $2.4 million
- The company is also working on producing powerful disinfectants which will be sold under the Sanicare brand
- FOD’s share price is up 5.26 per cent on the market and shares are trading for 8 cents apiece
Following the high demand of its hand sanitiser, The Food Revolution Group (FOD) has delivered its first batch to the market.
FOD has prioritised the delivery of its hand sanitiser products to hospitals, school colleges and pharmacies. However, the company has received strong demand from major supermarket chains.
Delivery to these retailers is being scheduled for later this month and is expected to exceed $2.4 million.
“Demand for our hand sanitiser product is far exceeding supply, but we have been fortunate enough with our extensive networks to procure the packaging we needed to deliver our first batch of the product as quickly as possible,” Chairman Norman Li commented.
“We have prioritised those in most need and we will then deliver into the wider market to retailers such as supermarket chains,” he added.
FOD decided to create hand sanitisers after the breakout of the coronavirus and shortages it has caused for this product, despite typically being a healthy juices and infused water company,
FOD will use its recently installed bottling line at its Mill Park facility in Melbourne to produce the hand sanitiser.
The hand sanitiser will be sold under the ‘Care Touch’ brand which is owned by FOD’s distribution partner, Careline.
The company will reserve the Sanicare brand for its new range of disinfectants which will also be produced at the Mill Park facility.
The Sanicare product is a powerful ethanol-based disinfectant the can be used on counters, desks, toilets, laptops, railings and mobile phones to prevent and kill any bacteria growing.
The anti-bacterial properties of the product means it is effective for disinfecting surfaces such as plastic, glass and wood and killing
“This is the next product needed for widespread distribution to help combat the coronavirus epidemic. FOD has the capacity to produce this product in large quantities and we expect a big demand for this product given recent enquiries from our customers,” Norman said.
FOD’s share price is up 5.26 per cent on the market and shares are trading for 8 cents apiece at 1:10 pm AEDT.
