Scalzo signs long lease on Advinco/Colignon(Ex Mro) property. Scalzo or Australian Premium Dried fruit has signed an agreement with Arrow funds management for the lease of the property that Mro gave up just 5 month ago, at a massive cost to shareholders. They will need to supply Mro for 2 more years and then they will process the fruit themselves!
Scalzo is now not just the largest but a huge player in this space, they are the owners or leasee on 4 of the 5 biggest dried fruit farms in Australia.
Mro is done in Mildura, basically they are on the way out; they will now never get enough fruit to operate efficiently in Mildura - Circa 15,000 ton. They will be lucky to process 2000 ton in the future!
Added to this I have been approach to help a grower group wanting to put in another processing plant in Mildura!
MRG Price at posting:
1.6¢ Sentiment: Sell Disclosure: Not Held
