Takura Capital is expected to inject new funding into Cairns by October
Business Reporter
CAIRNS Foods plans to introduce new products and bring back into production discontinued lines before the end of the year. The group recently said that about three discontinued lines would be brought back by the end of the year. New product lines will also be introduced to the market by December. The company is set to benefit from an injection of $33 million expected by September from investors Takura Capital. The fresh injection removes the debt albatross from the fast moving consumer goods which totals $25 million.
“The fresh capital helps Cairns in its retooling initiatives and allows for room to introduce new product lines,” the group said.
Cairns turnaround is on course and performance is encouraging with capacity currently running at 35 percent.