- Nestle Philippines has ordered an additional 5000 Range International (RAN) recycled logistics pallets for its factories
- The announcement takes the value of orders received from Nestle Philippines for the year to US$144,100 (around A$193,879)
- The 100 per cent recycled plastic logistics pallets are for Nestle’s Tanauan warehouse and is the first time the company has used the Re>Pal product
- It concludes a strong year for Range as it continues to roll out its products to the multinational food and drink conglomerate
- Shares in Range are up a healthy 13.6 per cent, trading at 2.5 cents following the announcement
Range International (RAN) has continued its roll-out of Re>Pal’s 100 per cent recycled pallets to Nestle Philippines.
The food and drink multinational placed an order for 5000 Re>Pal HD pallets, taking its product delivery total to nearly 10,000 for 2020. Range received US$441,440 (around A$193,879) worth of orders from Nestle during the year.
The 100 per cent recycled plastic logistics pallets are for Nestle’s Tanauan warehouse, and this is the first time the company has used the Re>Pal product.
Re>Pal has worked with Nestle to manufacture 100 per cent recycled plastic pallets and meet its vision to include as much recycled and recyclable material as possible in its supply chain by 2025.
Range Managing Director Stephen Bowhill said Nestle’s continued orders are part of the consumer giant’s move towards a more sustainable future.
“Nestle’s continued orders are being driven by its desire to reduce virgin plastic use as well as transition away from timber pallets,” he said.
“We are delighted to be able to help Nestle transition towards a more sustainable future with our long-life 100 per cent recycled plastic pallets,” the MD continued.
The pallets are expected to be delivered between January and March 2021. Nestle’s payment terms are standard 60 days from delivery.
Range International shares are in the green, trading at 2.5 cents each at 10:14 am AEDT.