Holista Colltech buys Collie land for $231,000

• Holista Colltech has acquired industrial land in Western Australia to establish a new collagen manufacturing facility.
• The property was purchased for $231,000 through a newly formed corporate joint venture entity.
• The company plans to build an asset-light modular plant to produce specialised sheep collagen products.

Holista Colltech (ASX:HCT) completed the acquisition of industrial land in Western Australia for $231,000.

The purchase replaces a previous manufacturing lease that the company recently chose to terminate.

The acquisition was finalised by Ovicoll, a joint venture company formed with Swang Chai Chuan.

Swang Chai Chuan contributed approximately $1.6 million to establish this joint venture entity.

The company stated that the new asset-light modular facility is expected to be operational by December.

The 3,974sqm site will be used for the production of sheep collagen and nano-collagen.

Following the announcement, the Holista Colltech share price was unchanged at $0.01.