New mill

RNS Number : 0235Q

M. P. Evans Group PLC

16 February 2023

 

M. P. EVANS GROUP PLC

(THE "GROUP" OR "M.P. EVANS")
NEW MILL IN SOUTH SUMATRA

The board of M.P. Evans, the producer of sustainable palm oil, is pleased to announce that the Group's sixth palm-oil mill has now been commissioned at its Musi Rawas estate in South Sumatra.

This 60-tonne-per-hour facility is now processing all the fresh fruit bunches ("ffb") from the Group's own areas and those of its associated scheme smallholders. The Group expects to be able to increase oil-extraction rates by utilising this new mill rather than sending crop to third-party mills.

The Group will work towards receiving certification from the Roundtable on Sustainable Palm Oil ("RSPO") for the new mill as soon as possible. This will help to increase further the Group's total percentage of certified sustainable production. Group and associated scheme-smallholder crops are continuing to increase significantly at Musi Rawas as the young areas mature, and planting is continuing in 2023 as the Group progresses towards its initial target of 10,000 planted hectares of Group and associated scheme-smallholder oil palm. In addition, the Group will look for profitable opportunities to source ffb from independent suppliers close to Musi Rawas to utilise spare capacity at its new mill, in the same way that it has successfully purchased independent crop at its existing mills.

16 February 2023

Enquiries:

M.P. Evans Group PLC

Telephone: [phone]

Peter Hadsley-Chaplin, Chairman
Matthew Coulson, Chief executive
Luke Shaw, Chief financial officer

Peel Hunt LLP (Nomad and joint broker)

Telephone: [phone]

Dan Webster, Andrew Clark, Lalit Bose

finnCap (Joint broker)

Telephone: [phone]

Tim Redfern, Harriet Ward

Hudson Sandler (Financial PR)

Telephone: [phone]

Charlie Jack, Francis Kerrigan, Amelia Craddock

 

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