TIDMAXS
RNS Number : 5569I
Accsys Technologies PLC
02 June 2014
AIM: AXS
NYSE Euronext Amsterdam: AXS
2 June 2014
ACCSYS TECHNOLOGIES PLC
('Accsys' or the 'Company')
Extended Licence Option Agreement between Tricoya Technologies
Ltd and Masisa
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, notes the announcement
issued today by Tricoya Technologies Ltd ('TTL'), the Company's
50:50 joint venture with INEOS Industries Holding Limited,
regarding the extension of a licence option agreement between TTL
and Masisa and the launch of Masisa Tricoya(R) Super MDF throughout
Latin America.
The TTL announcement stated:
Masisa Tricoya(R) Super MDF to be launched throughout Latin
America following an Extended Licence Option agreed between Tricoya
Technologies Ltd ('TTL') and Masisa
Masisa, a leading and innovative panel producer in Latin
America, has agreed to carry out evaluation of Tricoya including
market testing, production testing and development of finished
end-products with the launch of Masisa Tricoya(R) Super MDF. Masisa
Tricoya(R) Super MDF is an extremely durable, stable and
sustainable wood-fibre based panel product with one of its key
performance attributes guarantee against rot and decay with
dimensional stability for 50 years when used externally.
TTL will now be extending the two year licence option agreement
signed in April 2012 which, if successful, grants Masisa exclusive
production and distribution rights for Tricoya(R) for the Latin
American market - excluding Brazil, for which the sales and
marketing rights are non-exclusive.
During the evaluation phase, the Tricoya product will be
supplied by Medite Europe Ltd, TTL's joint development partner and
licence holder for which a supply agreement has also been
agreed.
Manufactured using Accsys Technologies' proprietary acetylation
process, Medite Tricoya has enjoyed very positive feedback from
customers resulting in a strong increase in demand. Medite Tricoya
panels have already been used in a wide range of applications in
the building and construction industry including façade claddings,
exterior trim applications, exterior doors, interior wet areas and
outside furniture.
Welcoming the news, Paul Clegg, Chairman of TTL and CEO of
Accsys Technologies comments: "Tricoya(R) Technology represents a
major innovation in the wood panel industry which is pioneering a
new generation of high performance and exterior use panel products.
The agreement with Masisa, one of the world's leading MDF and
particle board manufacturers, was initiated back in 2011/2012 and
is set to significantly expand the global panel-products market
estimated to be worth annually more than EUR60 billion.
"Our technology enables wood fibre panel products to be used in
challenging exterior applications, creating completely new market
opportunities for manufacturers operating in the 290 million m(3)
global wood based panel sector. It is already clear that Tricoya(R)
based panels can compete with many higher cost, non-renewable
construction materials currently used for exterior and wet
environment applications."
In addition, Pierre Lasson, General Manager of TTL says: "The
licence option with Masisa is a significant milestone for our
company, confirming that Tricoya(R) technology has genuine global
appeal. This will act as a platform for further worldwide market
penetration of our cutting edge technology."
"Innovation is one of Masisa's strategic axes", says Alfredo
Gili, the company's Corporate Manager of the New Product
Development Department. "It is because of this that we are
constantly looking for exclusive and innovative products, which
translates into an integral value offer to our customers by means
of a wide range of products. In this sense, we are very happy for
this alliance with Tricoya and certainly we will surprise our
customers in Latin America."
Masisa SA has industrial facilities in Chile, Argentina, Brazil,
Venezuela and Mexico as well as commercial operations in over 40
countries. Their main panel products are MDP (medium density
particleboard), MDF (medium density fibreboard) and Melamine
boards.
Tricoya(R) is the technology of wood chip acetylation licensed
by Tricoya Technologies, a 50:50 joint venture between Ineos and
Accsys Technologies PLC.
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via Blytheweigh
PLC Hans Pauli, COO
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
+44 (0) 7989 129658
Paul Weigh +44 (0) 7989 394
Blytheweigh Alex Shilov 027
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, 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 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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