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16 Feb 2023 07:00
M. P. EVANS GROUP PLC
(THE "GROUP" OR "M.P. EVANS")NEW MILL IN SOUTH SUMATRA
The board of M.P. Evans, the producer of sustainable palm oil, is pleased to announce that the Group's sixth palm-oil mill has now been commissioned at its Musi Rawas estate in South Sumatra.
This 60-tonne-per-hour facility is now processing all the fresh fruit bunches ("ffb") from the Group's own areas and those of its associated scheme smallholders. The Group expects to be able to increase oil-extraction rates by utilising this new mill rather than sending crop to third-party mills.
The Group will work towards receiving certification from the Roundtable on Sustainable Palm Oil ("RSPO") for the new mill as soon as possible. This will help to increase further the Group's total percentage of certified sustainable production. Group and associated scheme-smallholder crops are continuing to increase significantly at Musi Rawas as the young areas mature, and planting is continuing in 2023 as the Group progresses towards its initial target of 10,000 planted hectares of Group and associated scheme-smallholder oil palm. In addition, the Group will look for profitable opportunities to source ffb from independent suppliers close to Musi Rawas to utilise spare capacity at its new mill, in the same way that it has successfully purchased independent crop at its existing mills.
16 February 2023
Enquiries:
M.P. Evans Group PLC | Telephone: +44 (0) 1892 516333 |
Peter Hadsley-Chaplin, Chairman Matthew Coulson, Chief executiveLuke Shaw, Chief financial officer
Peel Hunt LLP (Nomad and joint broker) | Telephone: +44 (0) 20 7418 8900 |
Dan Webster, Andrew Clark, Lalit Bose
finnCap (Joint broker) | Telephone: +44 (0) 20 7220 0500 |
Tim Redfern, Harriet Ward
Hudson Sandler (Financial PR) | Telephone: +44 (0) 20 7796 4133 |
Charlie Jack, Francis Kerrigan, Amelia Craddock
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