Range International (ASX:RAN) has its debut 11am AEST today. Should be a good show
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Morgans is Lead Manager and Underwriter to the Initial Public Offer of Range International Limited
About Range International:
Range is a manufacturer of plastic pallets. It has developed the ThermoFusion™ technology that allows it to make plastic pallets from 100% recycled mixed waste plastic at a price that is competitive with wood pallets.
It currently has two production lines operating at its factory in Indonesia and sells its pallets under the brand Re>Pal™. With the additional funds raised through the Offer, Range intends to scale up its operations in Indonesia. In the medium term, the Company’s goal is to establish a global production footprint and sales distribution network.
Investment Highlights:
Re>Pal™ pallets: an environmentally sustainable product, designed to meet the unmet needs of pallet customers
The global pallet market: large and growing
- Re>Pal™ pallets are made entirely from recycled waste plastic and are cost competitive, safe, strong, durable and export ready.
Waste plastic: a major global issue
- The global market for sales of new pallets is expected to exceed $50 billion per annum in 2017.
- Asia Pacific is the fastest growing regional consumer with pallet sales forecast to increase at an annual rate of 9.1% for the period 2012-2017, reaching 33% market share by 2017.
- Plastic pallets are expected to be the fastest growing segment at 9.1% per annum for the period 2012-2017 and reaching 275 million units in 2017.
Timber consumption: a serious issue facing the pallet industry
- 311 million tonnes of plastic was produced in 2014 and this is projected to reach 622 million tonnes per annum by 2034.
- 95% of plastic packaging material value or USD 80–120 billion annually, is lost to the economy after a short first use, and it is estimated that only 14% of plastic packaging is collected for recycling.
Re>Pal™ pallets: well positioned to disrupt the global pallet market
- 93% of the five billion new pallets produced each year are made out of wood, and it is estimated that 40% of hardwood produced in the USA, and up to 40% of sawnwood in Spain, goes into pallet production.
Range: deep pallet industry experience
- By manufacturing plastic pallets at an equivalent cost to wood pallets, with the significant advantages that plastic pallets offer, Range International is therefore providing a product that is likely to have a highly disruptive impact on the global pallet industry.” Frost & Sullivan – Independent Market Report on the Pallet Market (see Section 3 of prospectus)
Range: scaling up for growth
- Lars Amstrup, Managing Director – 30 years’ experience in supply chain, logistics and industrial manufacturing. Prior to this role, he was President of CHEP Asia.
- Ken Brandt, Head of Global Strategy – recently joined Range following 10 years with Bramble’s CHEP Pallets Division, with the last five years in the role of Global Director of Product Development.
- Russell Twine, Head of Sales, Marketing / PR – recently joined Range following 15 years with CHEP Pallets, including most recently the role of Asia Head of Sales for Key Account Customers.
- Mark Daniel, Non-executive Director – recently joined Range following more than 25 years professional experience in supply chains and logistics, including most recently as President of China Merchants Loscam International.
- Range currently has two production lines in operation.
- The funds raised through the IPO have been budgeted to purchase an additional 14 production lines, of which 8 eight are expected to be operational by the end of 2017.
- With its first hub in Indonesia, Range is well situated to exploit Asian growth.
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Range International (ASX:RAN) has its debut 11am AEST today....
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