RM2 signs smart pallet deal with unnamed Walmart supplier
RM2 International S.A. (DI)
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16:09 17/01/20
Smart pallet developer RM2 International has entered into an agreement for the deployment of standard ‘RM2 BLOCKPal’ pallets with an unidentified “household name” in the homewares sector in North America.
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The AIM-traded company said the contract was expected to generate gross revenues of more than $1.5m on an annual basis, subject to certain velocity thresholds being met.
Under the contract, RM2 BLOCKPal pallets would be delivered to Walmart's Sam's Club stores.
The firm explained that the RM2 BLOCKPal pallet was one of four pooled pallets accepted by Walmart for shipments from suppliers, having successfully passed the retail giant’s supplier safety vetting process.
It said the selective inclusion of RM2 ELIoT-enabled pallets in certain delivery loops with the customer would enable all parties to “deepen their understanding” of pallet flows in the supply chain.
“The large contract announced today with a supplier to Walmart will see the first significant usage of our BLOCKPal pallets in Sam's Clubs stores,” said RM2 chief executive officer Kevin Mazula.
“We anticipate seeing the use of our approved pallet supplier status expanded.”