MP Evans Group PLC (AIM:MPE) CEO Matthew Coulson speaks to Thomas Warner from Proactive after announcing the acquisition of over 8,000 newly planted hectares in East Kalimantan, Indonesia, marking an approximate 15% increase in the company's landholding.
Coulson highlights the youthful nature of the new hectarage, which was primarily planted between 2017 and 2019, predicting it will significantly boost crop yields to match or surpass their current average of over 23 tons per hectare. He says the acquisition reflects MP Evans' commitment to sustainable growth and enhancing their milling capacity.
Earlier in 2023, the company had already expanded with a new mill and an additional 2,000 hectares in Sumatra. These developments, including the latest in East Kalimantan, demonstrate MP Evans' end-of-year momentum and strategic focus on areas adjacent to their existing operations. Coulson remains optimistic about shareholder satisfaction, citing the company's success in meeting strategic goals such as increasing the proportion of crop processed in their own mills.
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