TIDMAXS
RNS Number : 3097Q
Accsys Technologies PLC
18 October 2019
AIM: AXS
Euronext Amsterdam: AXS
18 October 2019
This announcement includes inside information as defined in
Article 7 of the EU Market Abuse Regulation (No. 596/2014)
Accsys Technologies PLC
("Accsys" or the "Company")
Appointment of Chief Executive Officer
Further to our announcement on 25 June 2019, the Board of Accsys
Technologies PLC is pleased to announce that Robert (Rob) Harris
has been appointed Chief Executive Officer of Accsys with effect
from 20 November 2019.
Rob brings significant experience from across several industrial
sectors, including chemicals, oil, metals, renewables and
speciality products. Rob initially spent nearly 20 years with BP
PLC and Exxon-Mobil. Whilst at BP, Rob was responsible for the
successful research, development and commercialisation of an
international market-leading wood treatment chemicals business. Rob
has subsequently held a number of senior roles, including with
manufacturers British Vita, Nippon Glass and Reliance Industries, a
Fortune 500 Industrial company and the largest private sector
corporation in India.
Most recently, Rob was CEO, Europe at Eco-Bat Technologies
Limited, a global energy storage product recycling business with
sustainable values and annual revenues exceeding GBP1bn. During his
tenure at Eco-Bat, Rob helped transform the business, both in
strategic repositioning and significantly improving profitability
and cash flow.
Patrick Shanley, Accsys Chairman commented: "I am delighted to
welcome Rob to Accsys. Rob brings deep operational and leadership
experience in the chemicals industry and a strong track record of
success, most recently at Eco-Bat Technologies. The Board remains
grateful to Paul Clegg for the very important contribution he has
made during his tenure as CEO. Paul will remain as a Board member
until 31 December 2019 and during this period will gradually
relinquish his executive responsibilities allowing for a smooth
transition."
Rob Harris commented: "Accsys is an incredibly exciting company
with innovative, sustainable and compelling products which are
aligned with global market trends. I look forward to contributing
to the Company's continued growth and success at this exciting time
in its development."
The following disclosures are required regarding Robert Harris's
appointment pursuant to Schedule 2 paragraph (g) and Rule 17 of the
AIM Rules for Companies:
Director's Full Current Directorships Directorships within the last
Name, Age and 5 years
Previous Names
Robert John Harris Cat's Pyjamas II International Lead Association
Limited UK
---------------------- -------------------------------
55 years old Eco-Bat B.V.
---------------------- -------------------------------
H.J Enthoven& Sons Limited
---------------------- -------------------------------
Eco-Bat Technologies GB
---------------------- -------------------------------
H.J Enthoven Limited
---------------------- -------------------------------
HJE Limited
---------------------- -------------------------------
G & P Batteries Limited
---------------------- -------------------------------
Blotter Limited
---------------------- -------------------------------
BLM Limited
---------------------- -------------------------------
British Lead Mills Limited
---------------------- -------------------------------
Eco-Bat SRL
---------------------- -------------------------------
Eco-Bat Norway
---------------------- -------------------------------
BMG Metall und Recycling GmbH
---------------------- -------------------------------
Ecobat Logistics Austria GmbH
---------------------- -------------------------------
Berzelius Metall GmbH
---------------------- -------------------------------
Politec SRL
---------------------- -------------------------------
There are no further disclosures required to be made in respect
of the appointments under Schedule 2(g) and Rule 17 of the AIM
Rules for Companies.
The person responsible for arranging the release of this
announcement on behalf of Accsys Technologies PLC is Angus Dodwell,
Legal Counsel and Company Secretary.
Ends
For further information, please contact:
Accsys Technologies PLC via FTI Consulting
Patrick Shanley, Chairman
Will Rudge, FD
Numis Securities - NOMAD and Joint Broker
Oliver Hardy (NOMAD) +44 (0) 20 7260
Christopher Wilkinson / Ben Stoop 1000
Investec Bank plc - Joint Broker
Carlton Nelson
James Rudd +44 (0) 20 7597
Alex Wright 5970
FTI Consulting
Matthew O'Keeffe +44 (0) 20 3727
Alex Le May 1340
Off the Grid (The Netherlands)
Frank Neervoort +31 681 734 236
Yvonne Derske +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.
Tricoya(R) Consortium In March 2017, Accsys announced the
formation of the Tricoya(R) Consortium to fund, build and operate
the Tricoya(R) plant in Hull, UK. Members of the consortium include
BP and the leading manufacturer of sustainable wood-based panels,
MEDITE Europe DAC. Tricoya Ventures UK Ltd (TVUK), a subsidiary of
Accsys, owns and will operate the Tricoya(R) plant. TTL exploits
all Tricoya(R) related intellectual property and benefits from any
Tricoya(R) related revenues other than those generated by the
Tricoya(R) plant. The Tricoya(R) plant is expected to have an
initial capacity of 30,000 metric tonnes of Tricoya(R) chips per
annum, enough to produce approximately 40,000m(3) of Tricoya(R)
panel products per annum. The Tricoya(R) plant is expected to reach
EBITDA breakeven at approximately 40% design capacity and to take
approximately four years to reach full capacity following
completion. The location of the Tricoya(R) plant at Saltend
Chemicals Park in Hull allows for expansion when market conditions
dictate.
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 higher
sustainable and environmental 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
'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' and 'AccsysTechnologies'aretrading names 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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