REG-New Britain Palm Oil NBPO Sign Supply Agreement with FerreroReleased: 08/10/2009
com:20091008:RnsH4298A
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RNS Number : 4298A
New Britain Palm Oil Limited
08 October 2009
8 October 2009
NEW BRITAIN PALM OIL LIMITED
("NBPOL" or the "Company")
SIGNS SUPPLY AGREEMENT WITH FERRERO
New Britain Palm Oil Limited (LSE: NBPO), a large scale integrated industrial
producer of palm oil in Australasia, is pleased to announce today that, via its
sole agent Pacific Rim Plantation Services Pte Ltd, it has entered into a five
year supply agreement to provide Ferrero, a world leading confectionery company,
with significant quantities of sustainably produced palm oil.
Ferrero, like NBPOL, has a high regard for the importance of sustainability,
including social, ethical and environmental responsibilities, and both companies
remain active in improving their performance in this regard. NBPOL also has an
international reputation for leading the plantation industry in all aspects of
plantation management.
NBPOL's operations in West New Britain Province, Papua New Guinea are certified
as conforming to the Roundtable on Sustainable Palm Oil's (RSPO) Principles and
Criteria on sustainability.
Crucially, the agreement with Ferrero is direct with an end user of NBPOL's
products, rather than with an industrial intermediary. The agreement enables
Ferrero to gain better control of its supply chain and enables NBPOL to
specifically tailor its products for a major consumer.
Ferrero is renowned for producing high quality confectionery using the finest of
raw materials, with an artisan's attention to detail and respect and care for
the consumer and environment. These attributes have helped to make its
confectionery products (global brands such as Ferrero Rocher, Kinder, Nutella
and Tic-Tac) highly successful and loved around the world, also making Ferrero
the world's most reputable company of 2009 according to the "Global Reputation
Pulse" survey conducted by the Reputation Institute of New York.
The agreement will enable NBPOL to supply Ferrero with palm oil products
originating from its fresh, high quality, sustainable crude palm oil ("CPO"). As
part of the agreement, NBPOL has committed to investing in the refining
equipment necessary to produce the required palm oil products in Papua New
Guinea.
Nick Thompson, Chief Executive of NBPOL, commented:
"New Britain Palm Oil is very pleased to be supplying such a highly regarded and
successful global confectionery group as Ferrero. NBPOL and Ferrero have a
similar high regard and respect for the environment and both companies recognise
the growing demand among consumers for companies that source ethically and
sustainably produced products.
Ferrero has an excellent reputation for quality and are well known for only
selecting suppliers that can offer the best materials and service. At New
Britain, we are delighted to be working with Ferrero to supply them, for the
long term, with our sustainable palm oil products and developing the
relationship further."
Alessandro Cagli, Corporate Social Responsibility Director for the Ferrero
Group, said:
"Not only does this supply agreement with New Britain underline Ferrero's
commitment to sourcing ethically and sustainably produced raw materials,
wherever possible, but it also emphasises our dedication to selecting only the
finest quality materials for the confectionery products enjoyed by our consumers
worldwide.
We at Ferrero are delighted to be working with NBPOL in this important new
venture to supply us with sustainably produced palm oil."
Enquiries:
Kreab Gavin Anderson Tel: +44(0)20 7074 1800
James Benjamin Email:nbpol@kreabgavinanderson.com
Anthony Hughes
New Britain Palm Oil Limited Tel: +44(0)20 7074 1800
Nick Thompson
Alan Chaytor
Ferrero Group Tel:+32-475-593916 Email:alessandro.cagli@ferrero.com
Alessandro Cagli
Tel. + 39-335-7266790
Raoul Romoli Venturi Email:raoul.romoliventuri@ferrero.com
Website: http://www.nbpol.com.pg/
Website: http://www.ferrero.com/eng/index.html
Website: http://www.pacrim-oils.com/
Notes to editors
New Britain Palm Oil Limited is a large scale integrated industrial producer of
sustainable palm oil in Australasia and is headquartered in Papua New Guinea
('PNG'). It has over 44,500 hectares of planted palm oil plantations and long
term leases over 30,000 hectares of additional land, some of which will be
converted to palm oil, six oil mills, a refinery and a seed production and plant
breeding facility. The Company is quoted on both the Main Market of the London
Stock Exchange and on the Port Moresby Stock Exchange in PNG.
NBPOL is fully vertically integrated, producing its own seed (which it also
sells globally) and planting, cultivating and harvesting its own land and
processing and refining palm oil. It also contracts directly with its end
customers in the EU and arranges shipping of its products.
NBPOL has high regard for the importance of its sustainability credentials and
is active in proving its performance.
The FERRERO GROUP, based in Italy and Luxembourg, has 36 operating companies, 18
factories and over 20.000 employees worldwide. The company reported a
consolidated turnover in excess of 6 billion Euros for the 2006/2007 financial
year.
Very high quality, artisanal attention to details, freshness of products, a
selection of the finest raw materials, respect and care for the consumer: these
are the Ferrero keywords and values that have made brands like Kinder, Nutella,
Tic-Tac and Rocher known and loved by millions of consumers worldwide.
New Britain Palm Oil Limited,Ferrero Trading Lux SA and Pacific Rim Plantation
Services Pte Ltd are members of the RSPO.
Website: http://www.rspo.org/
This information is provided by RNS
The company news service from the London Stock Exchange
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