22 Dec 2016 07:00
22 December 2016
RM2 International S.A.
Manufacturing operations update
RM2, the sustainable composite pallet innovator, is pleased to update shareholders on progress at its new manufacturing operations in Mexico and China.
Both initiatives are on track. Pultrusion began in Mexico this month and the finished BLOCKPal product will be available in January. The Company has agreed with its manufacturing partner, Jabil Circuit Inc (Jabil), the specific monthly ramp-up of production during the first half of 2017 with full production in Mexico expected in Q3 2017. The process in China is approximately 10-12 weeks behind Mexico.
Kevin Mazula, COO and Head of Manufacturing at RM2, commented: "We are extremely grateful for the commitment and co-operation we have received from our partners Zhenshi in China and Jabil in Mexico. As a result of the swift progress we have made we are very confident that we will meet the deployment timetables that we outlined to our customers in North America."
John Walsh, RM2's CEO commented: "It is very gratifying to report that both these operations are well on track. Our strategic partnerships with Zhenshi and Jabil have transformed RM2's long term manufacturing cost base and capabilities. We now have excellent visibility for cost efficient production and volumes during 2017 and beyond. I look forward to giving a further production update in Q1 2017."
For further information, please contact:
RM2 International S.A. | +44 (0)20 8820 1412 |
John Walsh, Chief Executive Officer Jean-Francois Blouvac, Chief Financial Officer | |
Strand Hanson Limited (Nominated & Financial Adviser) | +44 (0) 20 7409 3494 |
James Spinney Ritchie Balmer | |
James Bellman
| |
Citigate Dewe Rogerson | +44 (0)20 7638 9571 |
Simon Rigby Rob Newman Ellen Wilton |
Notes to Editors
RM2 International S.A. specialises in pallet development, manufacture, supply and management to establish a leading presence in global pallet supply and improve the supply chain of manufacturing and distribution businesses through the effective and efficient use and management of composite pallets. It is quoted on the AIM market of the London Stock Exchange under the symbol RM2.L.
For further information, please visit www.rm2.com