- The Food Revolution Group (FOD) is over 55 per cent today after it announced it will start producing hand sanitiser
- The outbreak of the coronavirus has created a shortage of hand sanitiser in the Asia-pacific region, causing FOD’s customers needing an additional supply of the cleanser
- The company will use its recently installed bottling line at its Mill Park facility in Melbourne to produce the hand sanitiser
- Production is expected to begin by the end of the month
- FOD is up 56.1 per cent on the market today, trading at 8.9¢ per share
The Food Revolution Group (FOD) is up over 55 per cent today after announcing it will start making hand sanitiser to meet the growing coronavirus demand.
The outbreak of the coronavirus has created a shortage of hand sanitiser in the Asia-pacific region, causing FOD’s customers needing an additional supply of the cleanser.
FOD will use the recently installed bottling line at its Mill Park facility in Melbourne to produce the hand sanitiser.
The company completed an upgrade to its plant in December 2019, which included a clean room and laboratory. The plant has the capacity to produce and bottle numerous products, including gels, powders, oils and cosmetics.
FOD said the plant was upgraded to provide it with the flexibility to produce a variety of product to cater for the demands of the Chinese market. Commissioning of the bottling line is currently underway.
The company says the facility is suitable to produce hand sanitiser and plans to commence production before the end of the month.
It has already formulated and sourced the ingredients needed for an alcohol-based hand sanitiser which will be sold under the newly formed Sanicare brand.
“Careline Australia Pty Ltd, FOD’s distribution partner controlled by Chairman Norman Li, has received unprecedented demand for hand sanitiser locally and from China, which is in short supply due to the Coronavirus,” the company said.
FOD is up 56.1 per cent on the market today, trading at 8.9¢ per share at 1:11 pm AEDT.