- Jatcorp’s (JAT) subsidiary has signed a three-year deal to produce dairy products, with revenue expected to total $10 million in the first year alone
- Under the deal, AMNA will produce and package milk products for Oceania Supply Chain Management with an initial order of 1.5 million units
- The Jatcorp subsidiary has also received a $20,000 Commonwealth grant to assist its planned TGA registration
- Meanwhile, JAT reports after a two-year delay it has finally opened its Shanghai boutique which sells baby powder products
- Shares in Jatcorp are up 14.3 per cent at 1.6 cents each
Jatcorp’s (JAT) subsidiary has signed a three-year deal to produce dairy products, with revenue expected to total $10 million in the first year alone.
JAT’s AMNA business will produce and package milk products for Oceania Supply Chain Management under the deal.
Oceania has already placed an initial order of 1.5 million units, generating the expected $10 million in revenue in year one of the contract.
ANMA has received an initial deposit of $150,000 and a payment of $295,000 to fund the initial stages of the dairy deal, with production to begin early next month.
The Jatcorp subsidiary has also successfully applied for a $20,000 Commonwealth grant to help fund its application to the Therapeutic Goods Association.
AMNA is applying to have its products registered with the TGA as medicines as opposed to food supplements.
Finally, JAT advised in its wide-ranging market update to shareholders today that it had finally opened its Shanghai boutique.
The store has been hit with two-years worth of delays related to COVID-19 restrictions, before the JAT Maternity & Infant Boutique opened on Friday.
“Despite all of the setbacks and delays, JAT has doggedly pursued obtaining all
licenses and regulatory approvals for the opening of its Shanghai Boutique,” JAT MD Wilton Yao said.
“Opening the Boutique allows JAT to sell its products directly to the Chinese public rather than through other indirect distribution networks.”
Shares in Jatcorp were trading up 14.3 per cent at 1.6 cents each at 11:53 am AEDT.