SECOS Group Ltd ( (AU:MCO) ) just unveiled an announcement.
MyEco Group Ltd has announced an operational restructure aimed at reducing fixed costs by consolidating manufacturing plants and expanding production capacity through partnerships in Southeast Asia. The initiatives, expected to be completed by June 2025, are projected to save $2.5m to $3.0m annually and enhance the company’s ability to achieve positive EBITDA in the medium term. This strategic move supports MyEco’s goal of becoming a recognized global brand for sustainable packaging and positions the company to meet increasing demand cost-effectively while maintaining high-quality standards.
More about SECOS Group Ltd
MyEco Group Ltd is a leading developer and manufacturer of sustainable packaging and materials, focusing on environmentally friendly products. The company aims to make its MyEco® branded products central to its growth strategy, leveraging ongoing innovation in biopolymer technology. MyEco® has become a top product in the compostable bin liner and kitchen caddy category in Australian supermarkets and is gaining recognition in international markets, including the United States and Mexico.
YTD Price Performance: -15.00%
Average Trading Volume: 172,849
Technical Sentiment Signal: Buy
Current Market Cap: A$10.14M
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