Oboya Horticulture Industries AB ("Oboya" or "the Company") has during the year invested in new machines and tools for easier conversion to production of environmentally friendly cultivation products that are degradable and recyclable and manufactured from Swedish biomaterials. The investments have resulted in continually orders from customers. Sales of environmentally friendly cultivation products are estimated at approximately SEK 11.9 million in 2019, while sales for the full year 2018 amounted to approximately SEK 1.0 million. Sales of environmentally friendly products are expected to gradually increase in the coming years.
Oboya works to promote the environment and sustainability of the cultivation industry by offering environmentally friendly cultivation products. During the year, the company made investments in new machines and tools. The purpose of the investments is to achieve a simpler conversion to the production of environmentally friendly products, reduce energy costs and double production capacity.
The new machines were initially used for the production of environmentally friendly cultivation products with Swedish biomaterials that are both fully degradable and recyclable. Oboya intends to continue to grow within the segment and considers the use of biomaterials as an important cornerstone in the transition to a fossil-free cultivation industry. Oboya's sales of environmentally friendly cultivation products are estimated at approximately SEK 11.9 million, while sales for the full year 2018 amounted to approximately SEK 1.0 million. Sales of environmentally friendly products are expected to gradually increase in the coming years.
Erik Penser Bank is Oboyas Certified Adviser at Nasdaq First North. Tel: + 46 8-463 83 00
For any inquiry regarding this press release, kindly contact:
Robert Wu, CEO of Oboya Horticulture Industries AB (publ)
Phone: + 46 (0)735 63 09 35
About Oboya Horticulture Industries AB
Oboya Horticulture aims to become a world-leading total supplier of consumables and logistics products for the cultivation industry as well as consumer products for home cultivation and indoor environments. Production takes place in factories in China, Poland, Vietnam and Kenya. More information about the company is available at www.oboya.se.
- Pressrelease - Oboya invests for a sustianable future a - increased sales of enviromentally friendly cultivation products
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