Papyrus Australia hits over 1-month high on launch of clam shell product

Papyrus Australia

07/01/2022 01:25

** Shares of the agricultural waste fibre tech co  PPY.AX 
jump as much as 5.6% to A$0.067, their highest level since Nov.
26 
    ** Says the leased moulded fibre packaging facility in
Sharqiah, Egypt has produced a 100% Banana Fibre Clam Shell
moulded product  urn:newsml:reuters.com:*:nASX7d5Dcc
    ** Adds that co now has an output of 6,300 clam shells per
hour from the fibre packaging facility
    ** Says surplus output to benefit co's "off-take" agreement
to the Halim family business to replace plastic food packaging 
    ** Shares on track for their biggest intraday pct gain since
Dec 3 
    ** More than 1.4 mln shares change hands as compared with
the 30-day average volume of ~315,400 shares  
    ** Stock up 16.7% in 2021


 (Reporting by Roushni Nair in Bengluru)
 ((Roushni.Nair@thomsonreuters.com;))