Papyrus Australia Ltd (AU:PPY) has released an update.
Papyrus Australia Ltd has announced the signing of two major contracts worth $1.7m USD with the Egyptian Military Armoured Production and Repair Factory, through its joint venture Papyrus Egypt LLC. These contracts are set to bolster the production capacity to 100 million pieces of biodegradable banana fibre packaging annually, potentially generating $2.7m USD in yearly revenue. The deals solidify Papyrus’s presence in the Egyptian market and its commitment to sustainable manufacturing.
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