PVAXX Ltd., a Bermuda based materials science and technology corporation (the “Company” and/or “PVAXX”), today inaugurated its 100,000 sq foot “flagship” corporate headquarters in Jebel Ali Free Zone (JAFZ), UAE. In addition to housing the Company’s fast-growing executive, technical and operations teams, the premises also comprise of a planned training and manufacturing facility, which once completed will be capable of producing approximately 1,500,000 million composite pallets per annum.
The ceremony was attended by more than 50 guests including directors and employees of the company, potential customers and strategic partners that included senior executives from JAFZA, DP World and Dubai-based GAC Group, with whom PVAXX has a Logistics Joint Venture.
Commenting on this important milestone, Christer Borjesson, President, said, “We are delighted to officially launch our operations in Jebel Ali Free Zone. This site provides an optimal location for PVAXX’s corporate headquarters and our first pallet manufacturing facility. We are strategically located in the heart of one of the world’s fastest growing ports, in close proximity to our key customers.
Jan Bak, Vice President of Sales and Marketing, added, “This is an exciting time for PVAXX and our global customers as we continue to make significant strides forward in the further development of our business. With a revolutionary product, a state-of-the-art facility under development, world-class partners and a strong management team, we are confident of success. Progress is being made on all fronts at a rapid pace and we expect to commence operations in line with the expectations of our customers and the strong demand they have initially expressed for our one-of-a-kind composite shipping pallets, which offer a cost effective and environmentally sound alternative to those pallets currently on the market.”
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.
