Business
Bon Natural Life Limited Breaks Ground on Its Third Production Facility in Yumen
XIAN, China, July 29, 2021 /PRNewswire/ -- Bon Natural Life Limited (Nasdaq: BON) ("BON" or the "Company"), a leading bio-ingredient solutions provider in the
About this update from Bon Natural Life Limited
[{"type":"text","content":"XIAN, China, July 29, 2021 /PRNewswire/ -- Bon Natural Life Limited (Nasdaq: BON) (\"BON\" or the \"Company\"), a leading bio-ingredient solutions provider in the natural, health and personal care industries, officially broke ground today on its third production facility in Yumen City's Material Chemical Industrial Park (the \"Yumen Plant\"), marking a key milestone to pursue its growth strategies.\nProject partners and local officials took part in the ceremony, celebrating the official start of the project. As previously announced, the Yumen Plant is expected to increase BON's production capacity of fragrance compounds and bioactive food ingredients by 200%, representing an 150% annualized growth potential in revenue upon completion. The construction is underway and Yumen Plant is scheduled to be up and running around June to September 2022. BON's third plant will house 6 state of art production lines with 3 lines dedicated to fragrance compounds and the other 3 lines for bioactive food ingredients, leveraging BON's proprietary biomanufacturing technology platform.\n\"We're thrilled to see this vision begin to take shape in Yumen city and bring our capacity next phase expansion strategy close to life. As one of the leading players in the industry, BON will continue executing its capacity expansion plan to strengthen our sales force and dedicate new resources in international markets, including the U.S., Europe and other regions and territories. In parallel to its proven capacity expansion fueled growth strategy, BON will leverage its science and expertise in natural and healthy ingredients to develop new proprietary products with its retail partners.\" Said Richard (Yongwei) Hu, the Chairman and CEO of Bon Natural Life Limited. \"The construction of Yumen Plant is a major step forward for the Company. It allows us to satisfy the increasing demand in the marketplace, significantly boosting our revenue and earnings potential, and operating in a more cost-efficiency fashion with state of art equipment. Last but not least, the Yumen Plant will be an environmentally responsible facility to bring positive social impacts in terms of emission and pollution reduction. We believe that the completion of Yumen Plant will help BON accelerate its global business expansion and create lasting long-term value for our investors.\"\nAbout Bon Nat...