Accsys Technologies PLC Completion of finance for Purchase of Land (5552W)
August 02 2018 - 2:01AM
UK Regulatory
TIDMAXS
RNS Number : 5552W
Accsys Technologies PLC
02 August 2018
2 August 2018 AIM: AXS
Euronext Amsterdam: AXS
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Completion of Purchase of Arnhem Land and Buildings
Accsys, the fast growing and sustainable chemical technology
group, today announces that is has completed the purchase of the
land and buildings associated with its Accoya(R) plant and
logistics centre in Arnhem, the Netherlands.
The purchase, from its landlord Bruil for EUR23m, was announced
on 1 May 2018, subject to finance. It has been financed with a
partially amortising five year package comprising EUR19m from ABN
AMRO and a commercial loan of EUR4m.
The financing terms will result in a lower overall income
statement charge over the next 20 years. The acquisition also
reflects Accsys's continued successful efforts to improve its
overall financing arrangements.
Ownership of the land is expected to provide enhanced strategic
options, operational security and greater flexibility in respect of
the use of the land.
ACCSYS TECHNOLOGIES PLC
("Accsys" of "de Vennootschap")
Voltooiing van de aankoop van de grond en gebouwen in Arnhem
Accsys, de snelgroeiende chemische technologiegroep, maakt
vandaag bekend dat de aankoop van de grond en gebouwen ten behoeve
van de productie van Accoya(R) en het logistieke centrum in Arnhem
succesvol is afgerond.
Op 1 mei 2018 werd de aankoop ter waarde van EUR 23 miljoen,
onder voorbehoud van financiering, reeds aangekondigd. De
verwerving is gefinancierd middels een lening ter grootte van EUR
19 miljoen van ABNAMRO die gedeeltelijk in vijf jaar zal worden
afgelost en een commerciële lening ter grootte van EUR 4
miljoen.
De kosten van de aangetrokken financiering zullen resulteren in
lagere lasten gedurende de 20-jarige looptijd van de financiering.
Verder demonstreert deze transactie Accsys' continue succesvolle
inzet om haar financieringsarrangementen te verbeteren.
Eigendom van de grond zal naar verwachting de strategische
opties, bedrijfszekerheid en de flexibiliteit ten aanzien van het
gebruik van de grond, verbeteren.
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via MHP Communications
PLC Will Rudge, FD
Hans Pauli, Executive Director,
Corporate Development
Nominated Adviser:
Jamie Lillywhite
Corporate Broking:
Christopher Wilkinson +44 (0) 20 7260
Numis Securities Ben Stoop 1000
Tim Rowntree +44 (0) 20 3128
MHP Communications Kelsey Traynor 8100
Frank Neervoort +31 681 734 236
Off the Grid (The Netherlands) Yvonne Derkse +31 222 379 666
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 Tricoya(R) wood elements, 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 London, United Kingdom, an
American office in Dallas, Texas (via its subsidiary Titan Wood,
Inc.) and technology licensing associated with the acetylation of
wood elements via its subsidiary Tricoya Technologies Limited. 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,
under the symbols 'AXS'. Accsys' operations comprise four principal
business units: (i) Accoya(R) wood production; (ii) building and
operating of Tricoya(R) wood chip acetylation plant in Hull; (iii)
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
(iv) 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.
Moreover, the Accoya(R) wood production process does not compromise
the wood's strength or machinability. The combination of
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 highly
sustainable and environmentally responsible building material. For
a full archive of Accoya(R) news, visit www.accoya.com/news.
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
naturally occurring '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 subsidiary of TWL with exclusive rights to exploit the
Tricoya(R) brand.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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