PVAXX Limited, the materials technology company with operations in Bahrain, has announced its intention to list on the London Alternative Investment Market (AIM), a junior market which is operated by the London Stock Exchange plc.

The company, which is headquartered in Bermuda and listed on the Bermuda Stock Exchange (BSX), manufactures pallet production equipment in Bahrain and shipping pallets in Oman and has research facilities in the UK.
Up to $100 million is being raised from institutional investors to complete a pallet factory in Oman’s Sohar Industrial Port, to manufacture production lines in Bahrain and to meet other existing financial obligations. PVAXX is expected to have a market value of approximately $500 million when it is listed on AIM.
The company intends to capture a significant share of the fragmented and rapidly expanding global pallet market, which is estimated to be worth $30 billion annually, through its revolutionary recyclable pallets.  The global pallet market is moving from wood for environmental and other reasons including those related to the need for enhanced safety, hygiene and trackability.
PVAXX’s pallets are made from polyethylene, mixed approximately 50:50 with sand, and use a foam sandwich structure to ensure the pallet suffers no loss of strength or durability. The replacement of an expensive plastic with cheap sand reduces the cost substantially when compared to 100 per cent plastic pallets currently available on the market. The pallets are produced using pallet production equipment which is manufactured for PVAXX by engineering companies in Bahrain. This equipment is exported worldwide for use in PVAXX’s own factories and by its USA franchisee.
There is already strong customer demand across the Middle East and from around the world for the PVAXX pallets. Machines produced in Bahrain have been used by PVAXX at a pilot production plant established in Dubai in 2005, where PVAXX was engaged in refining the manufacturing process, development and training for the production of pallets for field trials.
Henry Stevens, CEO of PVAXX, said, “PVAXX’s pallet production technology and its commercial model are positioned perfectly to take advantage of the opportunity offered by the fragmented and antiquated nature of the $30 billion global pallet market.  Customers are demanding an alternative to wooden pallets: one that is environmentally sound, which offers value for money and is trackable through their entire logistics system.  PVAXX delivers against all of these needs and we are seeing increasing demand from customers in the Middle East and across the world for our pallets and production capabilities.
“Feedback from potential investors so far has been extremely positive, as they can see the significant commercial potential of introducing new materials and technology into the current global pallet market.”