PVAXX Ltd., a Bermuda based materials science and technology corporation (the “Company” and/or “PVAXX”), announced today that plans were on schedule for the delivery of its bespoke rotational moulding machines to its Jebel Ali demonstration and training facility which, once complete, will also be capable of producing some 1.5 million composite shipping pallets.
These state-of-the-art machines have been developed by a Bahrain-based consortium comprising Airmech, Metals of Bahrain, INMA and PVAXX Industries WLL, who together will fabricate, cast and assemble the 35 tonne fully automated machines which are set to revolutionise the process of pallet production.
Designed by Persico S.p.A, an Italian company, on behalf of PVAXX, these machines are capable of outputting one pallet per minute whilst standard rotational moulding devices currently used in the market can only produce one pallet every 40 minutes.
Following the delivery of the initial eight machines at the end of March, PVAXX Industries WLL, working with its other Bahraini partners, will build some 400 machines per year, which together will be capable of producing more than 75 million composite pallets per annum. These machines will be exported from Bahrain to PVAXX Manufacturing and Distribution Partners’ manufacturing facilities all over the world to include North America, Europe, South and Central America and Asia.
According to Henry Stevens, Founder of the PVAXX Group, “We are extremely pleased with the progress that has been made on the development of these machines by our partners in Bahrain. Having looked at companies in North America, Europe and Asia, we found that Airmech, Metals of Bahrain and INMA far surpassed the ability of other companies to deliver the quality and quantity of our state-of-the-art machines to satisfy our global customer base, who eagerly awaits delivery of PVAXX’s new, revolutionary composite shipping pallets.”
Commenting on behalf of Airmech, Stewart Walters stated “We are delighted to have been selected from among the world’s leading companies to be part of such a dynamic team to build and deliver these one-of-a-kind machines to PVAXX, and view our ongoing work with PVAXX and the export opportunities it creates to be significant. Downstream development and further expansion of the industrial sector are key priorities in the Kingdom of Bahrain and across the region, and we are proud to be contributing to progress in this area.”
PVAXX recently inaugurated its 100,000 sq foot “flagship” corporate headquarters and planned training and demonstration facility in the Jebel Ali Free Zone (JAFZ).
This press release may include forward-looking statements about the Company’s revenues and earnings and future plans and objectives. Any such statements are subject to risks and uncertainties that could cause the actual results to vary materially.
© 2006 Al Bawaba (www.albawaba.com)
