- Wingara AG (WNR) is set to install an additional hay press at JC Tanloden’s Raywood hay processing facility in an attempt to increase export volumes
- Under an agreement, capacity at Raywood is set to increase to more than 100,000 mega tonnes per annum
- Commercial terms of the agreement reflect a lease and tolling arrangement, with additional revenue of more than $3 million per annum
- Once approved by the Department of Agriculture and Water and the Environment, the contract will commence on September 1, for a two-year term
- Shares have been trading 14.3 per cent higher at 16 cents at 2:31pm AEST
Wingara AG (WNR) is planning to install an additional hay press at JC Tanloden’s (JCT) Raywood hay processing facility in an attempt to increase export volumes.
The agreement will see capacity at Raywood increase to more than 100,000 mega tonnes per annum.
WNR said the commercial terms of the agreement reflect a lease and tolling arrangement, with additional revenue of more than $3 million per annum.
With current market conditions, JCT is anticipating the additional capacity to be fully utilised.
Once approval is received from the Department of Agriculture and Water and the Environment, who oversee the protocols relating to the export of hay to international markets, the contract is tipped to commence on September 1, with an agreed term to December 31, 2023.
CEO James Whiteside said the company is looking forward to expanding capacity which it said will support local growers, international customers and the Australian oaten hay export industry.
Shares have been trading 14.3 per cent higher at 16 cents at 2:31pm AEST.