CUEX Metal AG And Caravelle International Group Sign Innovative Manganese Ore Purchase Agreement To Advance Wood Drying Business; Caravelle Expects To Earn Close To $400M-500M Annually Through The Partnership With CUEX; Caravelle's Total Revenues Are Expected To Be In The Range Of $1.2B-$1.5B Over The 3-Year Term Of The Partnership
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Caravelle International Group (NASDAQ:CACO) has signed a manganese ore purchase agreement with CUEX Metal AG, expected to generate $400M-$500M annually for Caravelle. The partnership, involving the supply of 4.5 million tons of manganese ore over three years, aims to advance both companies' positions in the global steel and wood drying industries. The innovative business model includes transporting manganese ore and drying wood on the same carrier, optimizing resource allocation and promoting environmental sustainability.
April 18, 2024 | 1:20 pm
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Caravelle International Group's partnership with CUEX Metal AG is expected to significantly boost its annual revenue by $400M-$500M, contributing to a total expected revenue of $1.2B-$1.5B over the partnership's three-year term.
The partnership with CUEX Metal AG is directly tied to Caravelle's core business operations and revenue generation. The innovative approach of combining manganese ore transport with wood drying underlines a strategic move to diversify and strengthen its service offerings, likely leading to increased investor confidence and stock price appreciation in the short term.
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