Caravelle international group announces 3-year procurement contract with bestwood joinery worth $60 million

This deal marks the commercial launch of caravelle's revolutionary co-tech lumber drying in transit service singapore , april 3, 2023 /prnewswire/ -- caravelle international group (nasdaq: caco), a global ocean technology company, today announced that the company, through its singapore garden technology subsidiary, has signed a 3-year procurement contract with bestwood joinery worth $60 million. according to the terms of the procurement contract, caravelle will source 120,000 cubic meters of various species of lumber from indonesia, transport the lumber to bestwood joinery in cape town, south africa, and dry the wood in transit using caravelle's revolutionary co-tech technology using only recycled heat from the ship's engine.
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