TIDMAXS
RNS Number : 1994W
Accsys Technologies PLC
23 December 2013
AIM: AXS
NYSE Euronext Amsterdam: AXS
23 December 2013
ACCSYS TECHNOLOGIES PLC
('Accsys' or the 'Company')
ACCOYA(R) LICENCE AGREEMENT WITH SOLVAY FORMALLY APPROVED
Solvay exploring possibility of constructing plant on Accsys'
land in Arnhem; two parties discussing future co-operation,
including potential of co-ordinated operational and maintenance
services
Accsys, the environmental science and technology company whose
primary focus is on the production and technology licensing of
Accoya(R) wood and Tricoya(R) wood elements, today announces that
its Accoya(R) licence agreement ('the licence agreement') with
Belgian chemical group Solvay is now approved by both parties and
is fully effective, resulting in a new level of cooperation between
the two companies.
The licence agreement grants Solvay exclusive rights for a
minimum of 15 year period, renewable at agreed terms, to produce
and to sell Accoya(R) within the Council of Europe from this
initial plant. The licenced territory includes 47 states in the
Council of Europe, but excluding Belgium, Ireland, Luxembourg, the
Netherlands and the United Kingdom which are reserved to Accsys.
The licence agreement also grants Solvay the option to build
additional Accoya(R) production plants in Europe, with the first
plant (the 'plant') having a total capacity of c. 63,000 m(3) of
finished Accoya(R) output, expected to be operational in the course
of 2016.
In return, Accsys will receive a series of licence payments,
which have already commenced and will be made during the phased
construction of the plant, and with royalty payments per volume of
Accoya(R) produced thereafter.
The two companies have also signed an amendment to the licence
agreement which now includes the possibility of Solvay constructing
the plant in Arnhem on land Accsys currently owns, adjacent to the
Company's existing manufacturing facility and in a phased manner.
Solvay is now reviewing the two options for the optimal plant
location, being either Arnhem, the Netherlands or Freiburg,
Germany.
The decision on the plant and its location will be made by
Solvay in the next few months.
In addition the two companies have agreed to examine the best
ways to provide coordinated operational and maintenance services to
both plants, and to review the best form of cooperation between the
two companies going forward.
Further to the licence agreement becoming unconditional, Accsys
and Solvay have entered a transitional phase in which Accsys will
continue to sell to Accoya distributors in Solvay's region while
working to transfer the relationships to Solvay.
Commenting, Paul Clegg, CEO of Accsys, said:
"I am delighted that we have been able to formalise what has
been a highly progressive, long standing relationship with Solvay.
Finalising the licence agreement with a company of Solvay's
undoubted reputation and status is an excellent endorsement of our
proprietary industrial process and Accoya(R) wood.
"Our ongoing discussions with Solvay hold the potential to
result in an extended business offering from Accsys, with the
licence agreement enhanced through operational and maintenance
contracts that would add an additional revenue stream to our
business.
"While no final decision has been taken, locating the plant in
Arnhem could provide financial and operational advantages to both
parties."
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via Blythe Weigh
PLC Hans Pauli, COO Communications
Will Rudge, FD
Nominated Adviser: Oliver
Cardigan
Corporate Broking: Christopher
Wilkinson +44 (0) 20 7260
Numis Securities Ben Stoop 1000
+44 (0) 20 7138
3204
Paul Weigh +44 (0) 7989 129658
Blythe Weigh Communications Eleanor Parry +44 (0) 7551 293620
Frank Neervoort +31 681 734 236
Off the Grid (The Netherlands) Giedo Van Der Zwan +31 624 212 238
Notes to editors:
Accsys Technologies PLC (www.accsysplc.com) is an environmental
science and technology company 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, and an
American office in Dallas, Texas (via its subsidiary Titan Wood,
Inc). 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, it 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 wood based composites,
including panel products. These composites 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, a joint venture between Accsys and INEOS
Industries Holdings 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 joint venture between TWL and INEOS Industries Holdings
Limited 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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