WINGARA AG LIMITED

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Delayed Quote. Delayed  - 05/25 08:58:47 pm
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Wingara AG Limited Announces to Install Additional Hay Press to Increase Production at its Hay Processing, Storage, Marketing and Export Business, JC Tanloden

08/05/2021 | 06:16pm
Wingara AG Limited announced that it will install an additional hay press to increase production at its hay processing, storage, marketing and export business, JC Tanloden (JCT). The agreement involves the operation of an additional hay baling machine at JCT's Raywood hay processing facility. The arrangement will increase capacity at Raywood to in excess of 100,000 MT per annum. The commercial terms of the agreement reflect a lease and tolling arrangement, resulting in additional revenue of more than $3,000,000 per annum. Given current market conditions JCT anticipates the additional capacity to be fully utilised. Subject to the approval of the Department of Agriculture and Water and the Environment, who oversee the protocols relating to the export of hay to international markets, the contract will commence on September 1, 2021, with an agreed term to December 31, 2023.
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