Cardia Bioplastics Limited, an Australian company focused on sustainable and renewable packaging and plastics products, has begun an expansion program to more than double its resin manufacturing capacity. The expansion, from 5,200 tonnes per annum (tpa) to 11,200 tpa, is designed to accommodate the demand for Cardia’s Biohybrid™ products. The manufacturing plant is located in Nanjing, China, and the expansion program is expected to be completed by the end of 2011.
Cardia reported strong revenues in July and August 2011, with sales almost at A$1 million, meaning that the Company’s sales in Q1/F2012 (ending September 30, 2011) are on track to increase by over 100% compared with Q4/F2011 (ended June 30).
Keywords: carrier bags, Australia, Malaysia
Source: StockMarketsReview, 2011-08-31.