Symphony Environmental Tech. PLC EU legal challenge update (4524Y)
May 13 2021 - 2:00AM
UK Regulatory
TIDMSYM
RNS Number : 4524Y
Symphony Environmental Tech. PLC
13 May 2021
13 May 2021
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony", the "Company" or the "Group")
Update on the legal challenge to EU on plastics
Symphony Environmental Technologies Plc (AIM: SYM), global
specialists in supplying and developing specialised plastic
products and technologies that make plastic "smarter, safer and
more sustainable", announces the following update on its legal
action against the Commission, Parliament, and Council of the
European Union ("EU") in relation to their decision to adopt
Article 5 of the Single Use Plastics Directive 2019/904 ("the
Directive").
As set out in Symphony's announcement on 21 December 2020,
Symphony's legal action is a compensation claim for damage to its
business caused by the failure of the EU Institutions to make it
clear that their intended ban of "oxo-degradable plastic" does not
apply to "oxo-biodegradable plastic." Symphony also considers that
the ban is in any event illegal due to a failure to accord due
process, and because it is disproportionate and discriminatory.
Symphony has now received the defences from each of the
Defendants which are being considered by the Company's specialist
legal team. This will take several weeks, and the Company will make
a further announcement, if appropriate, when the detailed
evaluation has been completed.
Michael Laurier, CEO of Symphony stated: "The Group remains
focused on delivering its objective to improve plastic by making it
protective against viruses, bacteria, fungi, fire and insects, and
reducing its negative impact on the environment by making it
biodegradable.
The legal costs and demands on management time pertaining to the
legal action are not expected to be significant during this year.
The preparation and service of the proceedings was accounted for in
2020."
Enquiries
Symphony Environmental Technologies Plc
Michael Laurier, CEO Tel: +44 (0) 20 8207
5900
Ian Bristow, CFO
www.symphonyenvironmental.com
Zeus Capital Limited (Nominated Adviser and
Joint Broker)
David Foreman / Nick Cowles / Kieran Russell Tel: +44 (0) 161 831
(Corporate Finance) 1512
Dominic King / Victoria Ayton (Sales) Tel: +44 (0) 203 829
5000
Hybridan LLP (Joint Broker)
Claire Louise Noyce Tel: +44 (0) 203 764
2341
NOTES TO EDITORS:
About Symphony Environmental Technologies plc
www.symphonyenvironmental.com
Symphony has developed a range of additives, concentrates and
master-batches marketed under its d2p(R) ("designed to protect")
trademark, which can be incorporated in a wide variety of plastic
and non-plastic products so as to provide protection against many
different types of microbes, insects and rodents, and against fire.
d2p products also include odour, moisture and ethylene adsorbers as
well as other types of food-preserving technologies.
Symphony has launched d2p anti-microbial household gloves and
toothbrushes and is developing a range of other d2p finished
products for retail sale. See www.d2p.net
Symphony has also developed and continues to develop and market,
a type of biodegradable plastic and its associated technology,
which helps tackle the problem of microplastics by turning ordinary
plastic at the end of its service-life into biodegradable
materials. It is then no longer a plastic and can be bioassimilated
in the open environment in a similar way to a leaf. The technology
is branded d2w(R) and appears as a droplet logo on many thousands
of tonnes of plastic packaging and other plastic products around
the world. In some countries, including Saudi Arabia, Jordan,
Bahrain and the UAE this type of plastic is mandatory. See
www.d2w.net
The Group has complemented its d2w biodegradable product range
with d2c "compostable resins and products" that have been tested to
US and EU composting standards.
Symphony has also developed the d2Detector(R), a portable device
which analyses plastics and detects counterfeit products. This is
useful to government officials tasked with enforcing legislation,
and Symphony's d2t tagging and tracer technology is available for
further security.
Symphony has a diverse and growing customer-base and has
established itself as an international business with 74
distributors around the world. Products made with Symphony's
plastic technologies are now available in nearly 100 countries and
in many different product applications. Symphony itself is
accredited to ISO9001 and ISO14001.
Symphony is a leading member of the OPA (www.biodeg.org) and
actively participates in the Committee work of the British
Standards Institute (BSI), the American Standards Organisation
(ASTM), the European Standards Organisation (CEN), and the
International Standards Organisation (ISO).
Further information on the Group can be found at
www.symphonyenvironmental.com and twitter @SymphonyEnv See also
Symphony on Instagram. A Symphony App is available for downloading
to smartphones.
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