TIDMAXS
RNS Number : 7233X
Accsys Technologies PLC
20 August 2009
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AIM: AXS
NYSE Euronext Amsterdam: AXS
Interim Management Statement
Accsys Technologies PLC issues the following Interim Management Statement.
There have been a number of changes within the business during the period.
Firstly, Paul Clegg was appointed as Chief Executive following Finlay Morrison
standing down from the Board.
We have carried out a detailed review of our cost base to ensure it is
appropriate for the current business environment, resulting in a significant
headcount reduction.
Our Accoya production facility in Arnhem, The Netherlands, is currently
undergoing a major automation project, which will improve efficiency and reduce
operating costs and headcount further.
In the 3 month period to 30 June 2009, sales revenue from Accoya , increased by
51% compared to the same period last year. We are also pleased to announce that
following the successful completion of the first heavy traffic road bridge made
of Accoya in Sneek, The Netherlands, we have recently been awarded the contract
to supply Accoya for the construction of a second bridge.
Paul Clegg commented, "Whilst the trading environment continues to be
challenging, the changes we are making will ensure we have a more efficient and
focused business moving forward".
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ENDS -
For further information, please contact:
+----------------------------+-------------------------------------+----------------------------+----------------------------+---------------------------------+---------------------+
| Accsys Technologies PLC | Paul Clegg, CEO | +44 20 8150 8835 | | William Paterson-Brown, | +44 20 8150 8835 |
| | Kevin Wood, CFO | | | Executive Chairman | |
| | | | | | |
+----------------------------+-------------------------------------+----------------------------+----------------------------+---------------------------------+---------------------+
| Matrix Corporate Capital | Stephen Mischler | +44 20 3206 7000 | | Hugh Field | +44 20 7523 8000 |
| LLP | Anu Tayal | | | | |
| | | | | | |
+----------------------------+-------------------------------------+----------------------------+----------------------------+---------------------------------+---------------------+
| Threadneedle | Graham Herring | +44 20 7653 9850 | | Leah Kramer / Paul McManus | +44 20 7933 8780 |
| Communications | Josh Royston | | | Leah.kramer@parkgreenmedia.com | +44 7793 244 055 |
| | graham.herring@threadneedlepr.co.uk | | | Paul.mcmanus@parkgreenmedia.com | +44 7980 541 893 |
| | josh.royston@threadneedlepr.co.uk | | | | |
| | | | | | |
+----------------------------+-------------------------------------+----------------------------+----------------------------+---------------------------------+---------------------+
| Citigate First Financial | Wouter van de Putte | + 31 20 575 4080 | | Wouter van de Putte / Laurens | + 31 20 575 4080 |
| B.V. | Laurens Goverse | | | Goverse | |
+----------------------------+-------------------------------------+----------------------------+----------------------------+---------------------------------+---------------------+
Notes to Editors:
Titan Wood Limited (www.titanwood.com) is a wholly owned subsidiary of the
Accsys Technologies PLC (www.accsysplc.com) group of companies. Accsys
Technologies PLC is listed on the London Stock Exchange AIM market, and on
Euronext Amsterdam by NYSE Euronext, under the symbols 'AXS'.
Wood Acetylation is a process, which increases the amount of 'acetyl' molecules
in wood, thereby changing its physical properties. The process protects wood
from rot by making it "inedible" to most micro-organisms and insects, 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.
Accoya wood (www.accoya.info) is produced using a patented process that
effectively converts sustainably grown softwoods and non-durable hardwoods into
what is best described as a "new wood species". Distinguished by its durability,
dimensional stability and, perhaps most importantly of all, its reliability (in
terms of consistency of both supply and quality), Accoya 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 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 wood offers a wealth of new opportunities to architects, designers and
specifiers. For marine uses where weight is also important, Accoya wood for the
first time provides boat builders with a wood that is strong, lightweight,
durable and which retains its natural beauty for far longer.
ACCOYA is a registered trademark owned by Titan Wood Limited
This information is provided by RNS
The company news service from the London Stock Exchange
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