TIDMAXS
RNS Number : 9960G
Accsys Technologies PLC
26 November 2015
AIM: AXS
NYSE Euronext Amsterdam: AXS
26 November 2015
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Solvay and Accsys enhance their collaboration to accelerate
marketing, sales and manufacturing of Accoya(R)
Accsys, the chemical technology group, focused on the
acetylation of wood, today is pleased to announce details of a new
agreement with Solvay Acetow Gmbh ("Solvay"), to refine the
relationship between the two parties for the licensing, marketing
and manufacturing of Accoya(R) . This new agreement provides the
framework and funding for a significant increase in the
manufacturing capacity in Arnhem.
Solvay will purchase a minimum 76,000 cubic metres of Accoya
from the Arnhem plant over the period from 2016 to 2020 (the
"offtake commitment") and as a result of the increased
manufacturing capacity in Arnhem and consequent greater sales
capacity, under the new agreement Solvay will review the optimal
timing to construct its 63,000 cubic metres Accoya manufacturing
plant.
The enhanced relationship with Solvay will benefit both parties,
with the increased manufacturing capacity and resulting sales
expected to be achieved for Accoya in a faster timescale than would
otherwise have been possible.
Accsys will double the existing manufacturing capacity at its
Arnhem site in stages, up to 80,000 cubic metres per annum from
40,000 cubic metres. The initial incremental 20,000 cubic metres
capacity is expected to come on stream in mid-2017.
The licence agreement covering Europe has been amended to
provide increased royalties to Accsys and the return to Accsys of
the selling rights for 20 European countries.
Accsys will provide sales and marketing services to Solvay on
agreed terms in respect of Solvay's exclusive European
territories.
A combination of loans and fees from Solvay, in addition to
those due under the offtake commitment, will fund the majority of
the initial increase in manufacturing capacity at Arnhem, with the
balance to be met by Accsys' own resources, including the possible
sale and leaseback of land at Arnhem.
Paul Clegg, CEO of Accsys said: "We are pleased to be able to
cement our relationship with Solvay through this agreement to
expand our Accoya(R) manufacturing capacity and Solvay's commitment
to purchase significant volumes from Accsys over the coming years.
This is an exciting step in the development of our business and is
further evidence of the fruits of our strategy to maximise returns
from our technology platform and resultant product offerings."
These agreements allow the market development of Accoya to
continue and optimises the roll out of manufacturing capacity under
its partnering program with Solvay, increasing the certainty of
supply for Accoya customers and users. It also enables Accsys to
continue to develop global markets effectively, building on the
expertise that it has developed over the last few years.
Accsys's interim results for the six months ended 30 September
2015 will be released on 30 November 2015.
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via MHP Communications
PLC Hans Pauli, COO
Will Rudge, FD
Nominated Adviser: Oliver
Cardigan
Corporate Broking: Christopher
Wilkinson +44 (0) 20 7260
Numis Securities Ben Stoop 1000
Tim Rowntree
James White +44 (0) 20 3128
MHP Communications Tess Harris 8100
Frank Neervoort +31 681 734 236
Off the Grid (The Netherlands) Yvonne Derkse +31 622 379 666
Notes to editors:
Accsys Technologies PLC (www.accsysplc.com) is a chemical
technology group whose primary focus is on the production of
Accoya(R) wood and technology licensing via its subsidiary, Titan
Wood Limited, which has manufacturing operations in Arnhem, the
Netherlands (through its subsidiary Titan Wood B.V.), a European
office in Windsor, United Kingdom, an American office in Dallas,
Texas (via its subsidiary Titan Wood, Inc) and technology licencing
associated with the acetylation of wood elements via its subsidiary
Tricoya Technologies Limited. All group subsidiaries are ultimately
100% owned by Accsys and trade as Accsys Technologies. Any
references in this announcement to agreements with Accsys shall
mean agreements with either Accsys or its subsidiary entities
unless otherwise specified. Accsys Technologies PLC is listed on
the London Stock Exchange AIM market and on Euronext Amsterdam by
NYSE Euronext, under the symbols 'AXS'. Accsys' operations comprise
three principal business units: (i) Accoya(R) wood production; (ii)
technology development, focused on a programme of continuous
development of and improvements to the process engineering and
operating protocols for the acetylation of solid wood and the
development of technology for the acetylation of wood elements; and
(iii) the licensing of technology for the production of Accoya(R)
wood and Tricoya(R) wood elements across the globe.
Accoya(R) wood (www.accoya.com) is produced using Accsys'
proprietary patented acetylation technology, that effectively
converts sustainably grown softwoods and non-durable hardwoods into
what is best described as a "high technology wood". Distinguished
by its durability, dimensional stability and, perhaps most
importantly of all, its reliability (in terms of consistency of
both supply and quality), Accoya(R) wood is particularly suited to
exterior applications where performance and appearance are valued.
Unlike most tropical and European hardwoods, its colour does not
degrade when exposed to ultraviolet light. Moreover, the Accoya(R)
wood production process does not compromise the wood's strength or
machinability. The combination of UV resistance, dimensional
stability, durability and retained strength means that Accoya(R)
wood offers a wealth of new opportunities to architects, designers
and specifiers. These benefits result in lower maintenance and
total cost of ownership while using a higher sustainable and
environmental responsible building material. For a full archive of
Accoya(R) news, visit www.accoya.com/news.asp.
Tricoya(R) Wood Elements (www.tricoya.com) are produced using
Accsys' proprietary technology for the acetylation of wood chips,
and particles for use in the fabrication of panel products such as
medium density fibreboard and particle-board. These products
demonstrate enhanced durability and dimensional stability which
allow them to be used in a variety of applications that were once
limited to solid wood or man-made products. Exploitation of Accsys'
proprietary technology relating to Tricoya(R) Wood Elements is
carried out through Tricoya Technologies Limited. Tricoya(R) Wood
Elements are lauded as the first major innovation in the wood
composites industry in more than 30 years.
Wood Acetylation is a process which increases the amount of
'acetyl' molecules in wood, thereby changing its physical
properties. When carried out to a sufficient level throughout the
wood, this process protects wood from rot by making it "inedible"
to most micro-organisms and fungi, without - unlike conventional
treatments - making it toxic. It also greatly reduces the wood's
tendency to swell and shrink, making it less prone to cracking and
ensuring that, when painted, it requires dramatically reduced
maintenance.
Accsys Technologies is the trading name of Titan Wood Limited.
ACCOYA(R) , TRICOYA(R) and the Trimarque Device are registered
trademarks owned by Titan Wood Limited ("TWL"), a wholly owned
subsidiary of Accsys Technologies PLC, and may not be used or
reproduced without written permission from TWL, or in the case of
the Tricoya(R) registered trademark, from Tricoya Technologies
Limited, a wholly owned subsidiary of TWL with exclusive rights to
exploit the Tricoya(R) brand.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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