TIDMAXS
RNS Number : 2637N
Accsys Technologies PLC
19 May 2020
AIM: AXS
Euronext Amsterdam: AXS
19 May 2020
Accsys Technologies PLC
("Accsys" or the "Company")
Appointment of Chairman Designate
Accsys, the fast-growing and eco-friendly company that combines
chemistry and technology to create high performance, sustainable
wood building products, announces that having served on the Board
for nearly 10 years, Patrick Shanley will step down as Chairman and
from the Board following the Company's Annual General Meeting in
September 2020. Accordingly, following an extensive process, the
Company is pleased to announce the appointment of Stephen Odell as
Chairman Designate, who will join the Board immediately after the
announcement of Accsys' full year results for the year ended 31
March 2020. The Board believes that an orderly handover is
essential to ensure that the business continues to deliver on its
strategic aims, therefore, Stephen will initially join as a
Non-Executive Director, before becoming Chairman immediately after
the Annual General Meeting.
Stephen joins following 38 years of service at Ford Motor
Company, including extensive Board and Chair positions. This
included appointments as Chairman and Chief Executive of Ford
Europe, Middle East and Africa, during which he led the
transformation of the European operations and delivery of
profitable growth through new product introduction, increased brand
building and driving efficiencies across the operations. He most
recently held the position of Executive Vice President of Global
Marketing, Sales and Service and oversaw these areas for all of
Ford's operations globally. During his time at Ford, Stephen worked
across Ford's operations globally including the USA, Asia and
Europe, living overseas in multiple locations in order to lead
Ford's other historic brands, including Mazda, Jaguar and Volvo,
where Stephen also acted as CEO. Accsys looks forward to utilising
Stephen's strategic insight and global experience as it delivers on
its growth strategy.
Rob Harris, Chief Executive Officer of Accsys Technologies,
commented:
"On behalf of the Board, I would like to thank Patrick for his
contribution and positive impact he has had on the growth and
direction of Accsys over the years and we wish him all the best for
the future. We are delighted to welcome Stephen to Accsys and his
international experience will be a great asset as we move onto our
next phase of growth."
Stephen Odell, Chairman Designate commented:
"I am pleased to be joining Accsys at a time where the world is
increasingly looking for sustainable products. I strongly believe
that Accsys is well poised to seize this opportunity. I look
forward to working closely with the Board and the executive team as
Accsys continues to deliver its growth strategy and capitalise on
the market opportunity ahead. "
There are no other matters in relation to the appointment of
Stephen Terence Odell (aged 65) which are required to be disclosed
in accordance with Rule 17 and paragraph (g) of Schedule Two of the
AIM Rules for Companies.
ENDS
For further information, please contact:
Accsys Technologies PLC via FTI Consulting
Rob Harris, CEO
Will Rudge, FD
Numis Securities - NOMAD and Joint Broker
Oliver Hardy (NOMAD) +44 (0) 20 7260
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 Derkse +31 622 379 666
Notes to editors:
Accsys ( Accsys Technologies PLC ) is a fast growing business
with a purpose: changing wood to change the world. The company
combines chemistry, technology and ingenuity to make high
performance wood products that are extremely durable and stable,
opening new opportunities for the built environment and giving the
world a choice to build sustainably.
Accsys transforms fast-growing, certified sustainable wood into
building materials with characteristics that match or better those
of man-made, intensely resource-depleting and heavily
carbon-polluting alternatives.
The company's primary focus is on the production of Accoya(R)
wood and Tricoya(R) wood elements, as well as technology licensing
via its subsidiaries Titan Wood Limited and Tricoya Technologies
Limited. Accsys has its head office in London, UK, production
operations in Arnhem, the Netherlands, an American office in
Dallas, Texas, and is constructing the world's first Tricoya(R)
plant in Hull, UK.
Accsys is committed to a more sustainable world, and uses
abundantly available wood sources that are certified as
sustainable. With our business model already aligned with several
UN Sustainable Development Goals, Accsys is currently working on
identifying further strategic ESG priorities to have an even
greater positive impact on the world.
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'.
More information about Accsys can be found at
www.accsysplc.com
Accoya (R) wood is a sustainable, durable and stable solid wood
product with exceptional performance, finish and sustainability.
Accsys' proprietary acetylation process makes the wood more
dimensionally stable and, because it is no longer easily
digestible, extremely durable. Produced from certified (e.g. FSC(R)
) sustainable sources, Accoya(R) wood has many environmental
credentials and ecolabels, and is one of very few building
materials to be Cradle to Cradle Certified(TM) at the Gold level,
with a Platinum rating for Material Health, confirming that no
harmful or toxic additives or chemicals are present to leach out
into the environment.
With an up to 50 year warranty and 70+ year service life, the
combination of sustainability, dimensional stability, durability
and retained strength means that Accoya(R) wood offers a wealth of
new opportunities to architects, designers, specifiers,
manufacturers and homeowners. These benefits result in lower
maintenance and total cost of ownership while also offering
significant sustainability benefits. For more information about
Accoya (R) wood, visit www.accoya.com .
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 (MDF) and particle-board.
Panel products made with Tricoya(R) wood elements are truly
durable and stable enough for use outdoors and in wet environments.
Combining the sustainability, durability and stability from our
acetylation process with the ease of use and quality finish of wood
panel products, the enhanced durability and dimensional stability
opens new opportunities for the use of these products, making them
suitable in applications and environments that previously required
solid wood, synthetic or unsustainable materials.
Tricoya(R) wood elements have been lauded as the first major
innovation in the wood composites industry in more than 30 years.
For more information about Tricoya (R) wood elements, visit
www.tricoya.com .
In March 2017, Accsys announced the formation of the Tricoya(R)
Consortium to fund, build, own and operate the Tricoya(R) plant in
Hull, UK, through its subsidiary Tricoya Ventures UK Limited. M
embers of the consortium include BP and the leading manufacturer of
sustainable wood-based panels, MEDITE Europe DAC. More information
is available at:
https://www.accsysplc.com/about-us/accsys-corporate-structure/
Wood acetylation is a process which increases the naturally
occurring acetyl content of wood, thereby changing its physical
properties. When carried out to a sufficient degree throughout the
wood, as with Accsys' proprietary process, it significantly reduces
the ability of the wood to absorb water without adding any toxic or
harmful compounds, elements or substances that were not already
present in the wood. This makes it much more dimensionally stable
and, because it is no longer easily digestible to most organisms,
extremely durable.
'Accsys' and 'Accsys Technologies' are trading names of Titan
Wood Limited ("TWL"), a wholly-owned subsidiary of Accsys
Technologies PLC. Accoya(R) , Tricoya(R) and the Trimarque Device
are registered trademarks owned by TWL, 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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