Metech International Enters JV with CPAC for Food Waste Upcycling Venture

MT Newswires06-26

Metech International (SGX:V3M) and Colorful Paradise Agricultural Cooperation (CPAC) finalized a joint venture agreement. according to a Tuesday filing on the Singapore bourse.

Under this deal, Metech's unit AGT will own 70% of the new JV company, while CPAC will hold the remaining 30%.

The JV company aims to specialize in converting food waste into animal feed and biofuel, using CPAC's expertise in agricultural machinery and fermentation technology.

This move marks Metech's push into sustainable business ventures, aimed at expanding revenue streams and improving shareholder value without significant financial impact expected for fiscal year 2024.

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