View the full article highlighting SECOS’ rise in the bioplastics market here on Next Tech Stock.
Chinese and Australian Officials Visit SECOS’ Chinese Operations in Show of Support For Bioplastics Producer
- Chinese and Australian key government stakeholders visit SECOS’ environmental bioplastics operations in Nanjing, China in a sign of support for the Group’s operations.
- SECOS’ recently appointed General Manager of Chinese operations, Mr Leo Lu, sees opportunities for further growth and investment with the Nanjing plant now running at high capacity utilisation.
- SECOS’ Chinese operations are key to the Company’s corporate strategy in meeting ongoing growth in international demand for compostable and biodegradable plastics.
Spain has received a final warning from the EU commission, advising the member state that it must implement EU rules on lightweight plastic carrier bags. If they do not, they will face infringement proceedings before the European Court of Justice. Read the full article by EUWID here
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Biodegradable and compostable plastics maker Secos Group says it is getting closer to achieving group profitability now that two of its three business units are operating profitably
Read the full article on Bioplastics Magazine here.
Sustainable and eco-friendly bioplastics developer SECOS Group Limited (ASX: SES, “SECOS” or “the Company”) wishes to provide an update on the Company’s decision to cease its Australian film manufacturing operations announced on 19 November 2018.
- SECOS appoints international polymer executive and change manager, Ian Stacey, as CEO
- Corporate costs review achieves $0.8 million in fixed overhead savings
- New structure enhances support for business units and SECOS’ key customers • Business progress on track for stronger second half resulting from the completion of first half restructuring initiatives
- Following completion of its strategic review into its wholly owned subsidiary Stellar Films Australia (SFA), SECOS will commence the orderly cessation of its Australian film manufacturing operations.
- The Company expects to achieve significant operating and overhead cost savings through transferring SFA customers to its Malaysian operations. Once this transition period has passed, SECOS expects to achieve an improvement to net profit after tax of more than $0.9 million per annum.
- Experienced Director and business strategist Jim Walsh joins the SECOS Board
- Mr Walsh is founder and MD of corporate advisory firm Rathaney Consulting and is Chairman of private health fund GMHBA Ltd
- Previous diverse industrial senior finance roles with Godfrey Hirst Australia and AG Coombs
- SECOS appoints internationally experienced executive Ian Stacey as Chief Operations Officer
- Mr Stacey brings a record of adding shareholder value, as well as a proven ability to drive sustainable growth
- Appointment to assist in driving growth in global sales of bioplastic resin from new Malaysian resin plant and in optimizing group productivity and efficiency
The Board of sustainable and eco-friendly bioplastics developer SECOS Group Limited (ASX: SES) (Company) announces that it has received commitments in relation to a private placement to sophisticated and professional investors of 15,179,597 Shares at an issue price of $0.062 per share raising approximately $1.2 million (Placement). Placement to be issued under ASX Listing Rule…
The Board of sustainable and eco-friendly bioplastics developer SECOS Group Limited (ASX: SES, “the Company”) announces that it is undertaking a strategic review of its wholly owned subsidiary, Stellar Films Australia (SFA), and SFA’s Australian cast film manufacturing assets (“Strategic Review”).
- SECOS appoints internationally experienced plastics industry veteran David Wake as Non-Executive Director
- Mr Wake brings a stellar track record of unlocking shareholder value and an ability to contribute to the Company’s global ambitions
- Mr Wake makes a $150,000 investment in the Company via a share placement to establish an initial director interest