Papyrus Australia Ltd (AU:PPY) has released an update.
Papyrus Australia Ltd has successfully commenced operations at the Egyptian Government’s new production facility, overseen by PPYEg, which is now capable of manufacturing up to 7,000 pieces per hour and is expected to scale up. The company has also secured significant new contracts with the Egyptian Government for further facility installations and expansion of production capacity, expected to yield up to $2.7 million USD annually. Shareholders have overwhelmingly approved a consolidation to integrate PPYEg fully, while the company continues to strategically position itself for growth with new executive leadership and government-funded product development opportunities.
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