Share
- Release Date: 04/04/12 10:30
- Summary: GENERAL: ATM: Sydney Milk Processing Facility Operational
- Price Sensitive: No
- Download Document 2.12KB
ATM
04/04/2012 08:30
GENERAL
REL: 0830 HRS A2 Corporation Limited
GENERAL: ATM: Sydney Milk Processing Facility Operational
NZAX and media release
4 April 2012
Sydney Milk Processing Facility Operational
A2 Corporation Limited (A2C, the Company) is pleased to advise its new milk
processing facility in Sydney has been commissioned as planned and is
supporting the increased demand for a2(TM) brand milk products.
Managing Director Geoffrey Babidge said: "The Company has experienced
continued growth of a2(TM) brand fresh milk in Australia in response to
increased customer awareness and ongoing marketing activity."
"The monthly sales track has continued to climb in the most recent quarter
ended 31 March 2012 and this new facility at Smeaton Grange in South West
Sydney provides surety of supply and will enhance the Company's financial
returns as the business continues to grow."
The state of the art fresh milk processing facility is designed to deliver
consistent high quality product and is sized to efficiently process current
requirements for New South Wales with the capability to cater for significant
volume growth over time. The output from contract processors will be focused
into other regions of Australia.
The capital cost associated with plant and equipment for the new facility is
consistent with the most recent estimate (AUD8.4 million) and is being funded
from a prior capital raising and an asset finance facility. The factory
building itself is subject to a long term lease with options to acquire.
"The commissioning of Smeaton Grange represents a further significant
milestone for A2C" Geoffrey Babidge said. "The Company continues to be
focused on its three core growth initiatives: building the beverages
business in Australasia; capturing niche shares in global milk markets,
including the UK launch of a2(TM) brand fresh milk in September with Robert
Wiseman Dairies; and developing infant formula and other products in highly
prospective markets."
For further information contact:
Geoffrey Babidge
Managing Director
A2 Corporation Limited
+61 296977008
End CA:00221525 For:ATM Type:GENERAL Time:2012-04-04 08:30:06
