Welshpool-based RLF Agtech has terminated a distribution rights deal for its products, moving the process in-house via the recently acquired LiquaForce.
RLF Agtech had previously granted Rural Liquid Fertilisers exclusive rights to manufacture and sell its products in Australia.
With the termination of the agreement, RLF Agtech now has complete control over the production and sale of its products in Australia.
It comes after, in May, RLF completed the acquisition of Far North Queensland-based LiquaForce and its assets for $4.5 million.
That acquisition paved the way this step of in-house production and sales, with the company now moving to manufacture its products out of LiquaForce’s Ingham facility.
RLF Agtech acting managing director Gavin Ball said the development was a pivotal moment for the company.
“From today, we are positioned to manufacture and sell our products across all Australian states and territories, enabling the Company to directly control the promotion and penetration of our products into the Australian agricultural broadacre and horticultural markets,” he said.
“The company is excited about this significant opportunity as it not only fortifies our market presence but also has the potential to accelerate our business trajectory and long-term growth aspirations.”
A statement said RLF said all immediate product demands will be met from the Ingham facility, ensuring minimal disruption despite the change in distribution logistics.
RLF shares were up 6.38 per cent to 5 cents per share at 3pm AWST.
