Pallet & Pooling News Briefs: RM2 Trading Suspended, PALLITE Raises £620,000 in First Week of Crowdfunding

Pallet and pooling news briefs

RM2: Suspension of Trading on AIM

RM2 trading on AIM has been suspended, as discussed by the pallet company in this July 1 announcement:

Further to the Company’s announcement on 26 June 2019, the Company confirms that it has not been able to publish, and post to shareholders, its audited annual report and accounts for the year ended 31 December 2018 (the “Accounts”) by 30 June 2019 as required by Rule 19 of the AIM Rules for Companies (the “AIM Rules”).

The Company continues discussions with potential lenders to the Company; securing such funding being a necessary part of finalising and publishing the Accounts. Please refer to the Company’s 26 June 2019 announcement for an update on the Company’s trading and financial position. The Company continues discussions with the multinational referenced in the announcement.

Dealings in the Company’s ordinary shares will, therefore, be temporarily suspended under AIM Rule 40 from 7.30 a.m. today until such time as the Accounts have been duly published in compliance with AIM Rule 19. Notwithstanding the temporary suspension of trading in the Company’s ordinary shares, the Company will continue to make announcements as and when there are any developments that require announcement under the AIM Rules.

Also read: Woodford-backed smart pallet firm suspends trading


RM2 International Shares Plunge 70% On News Of Delayed Accounts

RM2 International SA on Wednesday said there is a strong likelihood it will be unable to publish its 2018 accounts by the end of June and expects its shares will be temporarily suspended as a result.

Shares in RM2 plummeted 73% to 7.44 pence in reaction to the announcement. Read more.

 


PALLITE Secures More Than £620,000 First Week of Crowdfunding on Crowdcube

Pallite corrugated pallet

Source: LinkedIn

PALLITE, a UK-based designer and manufacturer of pallets and shipping crates, has secured £1,036,960 funding in the first two weeks of equity crowdfunding on Crowdcube. This represents 103% of the overall target of £1 million funding target. The company is currently offering 10.52% equity at an £8,501,604 pre-money valuation.

Read more.

 


New European Headquarters for Q_Pall Plastic Pallets

Q-Pall plastic pallets

The construction of Q-Pall’s new headquarters has begun. The new location in Veghel is located along the A50 and is expected to be done by the end of this year. The new building will house both the new European headquarters and a new industrial hall. Q-Pall is one of the global market leaders in the field of plastic pallets. The new location is necessary to be able to further expand this company, which was founded in 2005, and also offers good opportunities for Corporate Social Responsibility (CSR), which is especially important to Q-Pall. Read more.


LPR’s continuing success leads to senior appointment

Javier Dominguez

The European pallet-pooling specialist, LPR-La Palette Rouge, a Division of Euro Pool Group, is continuing its growth with the appointment of a new Regional Manager for its South Europe subsidiary located in Madrid (SP).

Javier Dominguez has been appointed Regional Manager South Europe, and will be based in Madrid. Javier will help drive the commercial development and operational excellence of the business in LPR Spain and Portugal.

Javier brings more than 20 years experience, predominantly in the international food retail sector and in pallet pooling as Commercial Director and General Manager.

Javier said: “This is an exciting time to join LPR. My aim is to deliver a complete, optimum, pallet solution to our clients – that makes a real difference to their supply chain, and ultimately their bottom line. I want to add value to manufacturer and retailer operations and help them to sell more and be more efficient and sustainable. These are key objectives for LPR.”


EPAL goes India

First EPAL licensee for producing CP pallets in India

Düsseldorf, May 22, 2019 – Since 1st May 2019, EPAL has had its first licensee for producing CP pallets on the Indian subcontinent. The producer of wooden pallets and box pallets applied to also assemble CP pallets as well as to produce and repair EPAL Euro pallets.

EPAL’s newest licensee is located in the state of Maharashtra, in the Taloja region, not far from the cities of Mumbai and Navi Mumbai. Both of these are important economic centers for the chemicals and petrochemicals industries, for the production of pharmaceuticals and for engineering.

Large, international companies with a high demand for ISPM 15-treated quality pallets for export, are well represented in the region. “The demand for EPAL pallets has grown enormously in the past few years, so it was a logical extension for us to include EPAL products in our range”, reasons the new licensee. In addition, it was always the company founder’s dream to one day produce EPAL pallets. ‘We believe in quality’, is the company’s motto, which EPAL approves wholeheartedly.

The first EPAL license in India was awarded in 1999 to produce Box pallets, followed in 2017 by licenses to produce EPAL Euro pallets and the EPAL 3 pallet.


LPR takes its digital transformation a step further with its new portal exclusively for retailers

The European pallet-pooling specialist, LPR-La Palette Rouge (a Division of Euro Pool Group), is pursuing its digital transformation and has launched a new application aimed at the company’s end-users: distributors. Among other features, this new web portal will enable simple, automatic management of our red-pallet collection.

LPR launched its digital transformation several years ago and the company is now making the benefits of this transformation available to distributors through a specific new, online portal: MyLPR retail. The portal is user-friendly and interactive, drawing on the latest web technologies. With this tool, distributors can access features that enable them to create and track their pallet collections, visualize schedules, and manage claims.

These new services are in line with LPR’s policy of providing end-customers with a transparent, efficient service, as Hervé Rose, the Director of European Assets, explains: “Our business is changing, and so are our customers’ needs. It is important that we listen to them and support them with high-added value solutions: optimizing the management of our pallet base is one example, and that is what makes us different. Thanks to MyLPR retail, our end customers do not waste time managing data. We have provided them with an efficient, innovative tool, which is easy to use. Asset management remains one of our key priorities.”

MyLPR retail has been well received and is already used by a large number of distributors, who have familiarised themselves with the new tool very quickly, as Jean Pierre Porta, the Packaging Manager of U Logistique, explains: “The portal is extremely easy to use and saves us a great deal of time. With ever-increasing volumes, this solution helps us to monitor collections, while still having personal contact with LPR.”


Lightning has raised $55 million from 50-plus investors

BASF Lightning Technologies Pallet, file photo. According to the story, GARD has been bought out as the pooling partner.

Composite pallet company Lightning Technologies was featured recently in Crain’s Detroit Business (Oakland County company aims to build a better pallet, with help from athlete investors):

Today, Owen is the millionaire owner of a new industrial pallet manufacturer in suburban Detroit that has designs on global expansion — and has attracted financial support from some of Detroit’s most famous sports names.

What’s got the likes of Kirk Gibson and Henrik Zetterberg opening their wallets is a blend of technologies that appear to fill a logistical need. Read more.

The company was covered in May 2018 by Forbes in this article: This Guy Reinvented The Shipping Pallet, Making It Safer, Stronger And Smarter, as well as in Manufacturing Today (Lightning Technologies reinvents the shipping pallet by making it a safer and more durable logistics platform equipped with RFID technology).


Smaller pallet easier to move from truck to sales floor

Display-ready shipments are popular with retailers trying to save time and money on stocking shelves, and the packaging inside the pallets often evolves to match the way products are presented to customers.

As part of this movement, pooled wooden pallet provider CHEP offers a half pallet that is easy to maneuver from tractor-trailer to retail floor loaded with ready-to-go products. The 40- x 24-inch pallets, edged in CHEP’s signature blue paint, cut labor costs and make the supply chain more efficient, says Jason Adlam, vice president, new business development, CHEP USA. Read more.


LPR launches its Retail Portal

LPR has launched its new retail portal, derived from the LPR customer portal myLPR. The retail portal includes features which will allow simpler management of pallet collection, along with planning tools and dashboards. The system will also allow retailers to monitor collection planning, make changes to collection dates.

The system brings more autonomy to our retail partners and was created with simplicity in mind.

Discover it on https://www.youtube.com/watch?v=–3MRc8n1Bo&feature=youtu.be

About LPR

LPR-La Palette Rouge, a division of Euro Pool Group, is a pallet-pooling company for manufacturers and distributors in the fast-moving consumer goods sector. LPR provides a full pallet service solution to its customers in the manufacturing, distribution and logistics sectors and their retail partners. By using and sharing pallets as circular logistic carriers, we help our customers to reduce their environmental impact and make their supply chain more efficient. Every day, customers benefit from the advantages of our reusable pallets. In close collaboration with our stakeholders we contribute to the transition towards a circular economy by sharing the benefits of our reusable packaging solutions across the supply chain. http://www.lpr.eu


AirAsia X and Unilode extend ULD management partnership until 2023

Unilode

AirAsia X, the long-haul affiliate of AirAsia, and Unilode Aviation Solutions, the leading global provider of outsourced Unit Load Device (ULD) management and repair solutions, have extended their ULD management agreement until 2023, for the second time in their ten-year partnership.

Mr. Pete Chareonwongsak, RedCargo Logistics CEO, said: “AirAsia X has been Unilode’s loyal customer since 2009 and throughout their partnership has relied on Unilode’s support, expertise and flexibility to supply containers and pallets that meet its exponential passenger and cargo growth and the network demands placed on its widebody fleet. Unilode’s commitment to invest in a mutually beneficial partnership has convinced AirAsia X that the renewed ULD management agreement will further drive efficiencies, load capacity and the digitalization of its cargo business powered by RedCargo. AirAsia wholly-owned subsidiary, Red Cargo Logistics, relies on partnerships like the one being announced today, as it aims to maximize revenue-generating belly space across all AirAsia and AirAsia X services.”

Mr. Benoît Dumont, Unilode CEO, said: “AirAsia X is one of the fastest growing long-haul, low-cost airlines in the world with more than 100 widebody aircraft on order, an increasing cargo business and a pipeline of new destinations to be added to its network. Unilode continuously enhances its ULD management service by taking its customers’ input, expectations, and business objectives into account and is committed to supporting AirAsia X’s ambitious growth plans with customer-focused and innovative ULD solutions. We are pleased to renew our agreement with AirAsia X for the second time during our partnership, which proves the long-term value that Unilode delivers to its airline customers.”