Business
ARC Group Worldwide, Inc. Announces Sale of All Assets and Strategic Business Pivot
ARC Group Worldwide, Inc. Announces Sale of All Assets and Strategic Business Pivot.
About this update from Rm2 International, Inc.
[{"type":"text","content":"DELAND, FL / ACCESSWIRE / December 13, 2021 / ARC Group Worldwide, Inc. ("ARC" or the "Company") (OTC Markets:ARCW), a leading global provider of advanced manufacturing, today announced that the Board of Directors has proposed to sell all of the Company's current operating businesses and assets (the "Legacy Business Sale"). The Company further announced that it plans to acquire RM2 International S.A. ("RM2"), a Luxembourg Société Anonyme which has developed a type of composite pallet to replace wooden pallets that includes "smart" Internet of Things or ("IoT") technologies to improve logistics. RM2 is targeting industries such as food and other industries where hygiene is of extreme importance.RM2 launched the smart pallet revolution by embedding autonomous IoT sensor technology in its logistically-optimized, hygienic BLOCKPal™ composite pallets. IoT sensor data are transmitted to the cloud via the LTE-M network, making visible the pallet's location and condition both indoors and in transit without requiring any additional hardware or information technology development. RM2 ELIoT®, the RM2 cloud-based supply chain intelligence platform, captures and contextualizes location, temperature, shock, and event data, giving customers end-to-end supply chain visibility and clear, actionable insights in real time. RM2 issues, retrieves, and sanitizes more than 1.5 million of its hygienic IoT pallets annually through a nationwide network of over 30 service facilities in a cost-effective, scalable, and environmentally sustainable pallet pooling system. To date, RM2 has invested more than $60 million into its research and development initiatives.Global demand for pallets is estimated to be 9.1 billion units by 2024. Part of this demand is being met by suppliers with the Pallet-as-a-Service model, where pallets are leased, pooled, bought back or recycled (as opposed to purchased and owned outright by customers). The potential Pallet-as-a-Service market in the US currently is estimated to represent 224 million units and it is currently served by approximately 104 million pallets, the majority of which are wooden. Non-wooden pallets are increasingly finding favor with end-users. To cite a few examples, a leading poultry processor has disallowed wooden pallets from ...