Secured Parcel of Land for New Manufacturing Facilities

Keytone Enterprises today signed an option for the acquisition of a parcel of land in the Izone Industrial Park, Canterbury, New Zealand. This land will allow for the construction of a second and future manufacturing site, adding significant additional capacity to the operation of Keytone.

The proposed plant sits on 1,886 square meters and will house blending and packing lines with total annual capacity of 3,500 tonnes, an increase of 233% over the existing production capacity. Keytone intends to enter a building contract with CoreSteel, a reputable New Zealand company for structural steel manufacturing, to complete the engineering design of the new plant. These facilities will be designed and built to allow for the installation of infant formula production lines should Keytone elect to manufacture and sell infant formula in the future, subject to regulatory compliance at the time.

Keytone believes that the additional production capacity resulting from the plant will enable it to sell its KeyDairy® powdered products to high-volume, high-value customers, throughout Asia and in particular, China. Keytone expects the plant will commence production in the second half of 2018.