AXS Accsys Technologies Plc

 

TIDMAXS 
 
RNS Number : 1686H 
Accsys Technologies PLC 
16 February 2010 
 

 
                                                                        AIM: AXS 
                                                    NYSE Euronext Amsterdam: AXS 
16 February 2010 
 
             ACCSYS TECHNOLOGIES PLC 
("Accsys" or " the Company") 
 
                          Interim Management Statement 
 
Having redoubled our efforts to seed international markets with Accoya  wood, we 
are very pleased to announce that since 1 October 2009, we have signed eleven 
new agency and distribution agreements with partners in the US, Canada, Europe 
and Asia.  We are closely collaborating with our distribution partners, with 
joint marketing programmes, to encourage and develop markets and applications 
for Accoya  wood. 
 
Our production facility in Arnhem continued to benefit from the process 
improvements implemented earlier in the financial year. This allowed us to meet 
the increasing demand from our distribution partners such that sales volumes of 
Accoya  wood for the period from 1 October 2009 to 31 January 2010 increased by 
36% compared to the same period last year. 
 
We are also encouraged by the increased interest expressed by companies across 
the world to explore the possibilities of licensing our technologies to produce 
both Accoya  wood and  Tricoya  panel products, although we are aware that many 
are at an early stage and may or may not be furthered by either party.  We are 
continuing to work with our current licensees and our joint development partner, 
Medite, and look forward to reporting further progress. 
 
We raised a gross amount of EUR16.9 million by way of a subscription for shares in 
Accsys Technologies PLC by various new and existing investors. All conditions to 
the fundraising, including approval from shareholders, the UKLA and the AFM (the 
English and Dutch regulators respectively) were satisfied earlier this month. 
The fundraising has been completed and a prospectus was published on 10 February 
2010. 
 
Paul Clegg commented: "We are starting to see improvements in the trading 
environment and are making good progress on all fronts. The restructuring that 
was implemented earlier in our financial year is starting to show positive 
results and we continue to make improvements to best position the Company for 
the challenges ahead as we exploit the markets for our products". 
 
Ends 
 
For further information, please contact: 
 
+---------------------+-------------------------------------+-------------------+ 
| Accsys Technologies | Paul Clegg, CEO                     |  +44 208 150 8835 | 
| PLC                 | Kevin Wood, CFO                     |                   | 
+---------------------+-------------------------------------+-------------------+ 
|                     |                                     |                   | 
+---------------------+-------------------------------------+-------------------+ 
| Matrix Corporate    | Stephen Mischler                    | +44 20 3206 7000  | 
| Capital LLP         | Anu Tayal                           |                   | 
+---------------------+-------------------------------------+-------------------+ 
|                     |                                     |                   | 
+---------------------+-------------------------------------+-------------------+ 
|                     |                                     |                   | 
| Threadneedle        | Graham Herring                      | +44 20 7653 9850  | 
| Communications      | Josh Royston                        |                   | 
|                     | graham.herring@threadneedlepr.co.uk |                   | 
|                     | josh.royston@threadneedlepr.co.uk   |                   | 
+---------------------+-------------------------------------+-------------------+ 
|                     |                                     |                   | 
+---------------------+-------------------------------------+-------------------+ 
| Citigate First      | Wouter van de Putte                 |  + 31 20 575      | 
| Financial B.V.      | Menno Delken                        | 4080              | 
+---------------------+-------------------------------------+-------------------+ 
 
 
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  wood and 
technology licensing via its 100% owned subsidiary, Titan Wood Limited 
(www.titanwood.com), which has manufacturing operations in Arnhem, the 
Netherlands, a European office in London and an Americas office in Dallas, 
Texas. Accsys' operations comprise three principal business units: (i) the 
Accoya  wood production facility located in Arnhem, The Netherlands; (ii) 
technology development, focused on a programme of continuous improvements to the 
process engineering and operating protocols for the acetylation of wood which 
are currently under development and the development of technology for the 
acetylation of wood fibre; and (iii) the licensing of technology for the 
production of Accoya  wood  and Tricoya(TM) wood elements across the globe. 
Accoya  Wood (www.accoya.info) is produced by using a patented, non-toxic 
process that effectively converts sustainably grown softwoods and non-durable 
hardwoods into what is best described as a "new wood species" via acetylation. 
Distinguished by its durability, dimensional stability and, perhaps most 
importantly of all, its reliability (in terms of consistency of both supply and 
quality), Accoya  wood is particularly suited to exterior applications where 
performance and appearance are valued. Unlike most woods, its colour does not 
degrade when exposed to sunlight. Moreover, the Accoya  wood production process 
does not compromise the wood's strength or machinability. The combination of UV 
resistance, dimensional stability, increased coatings life, durability and 
retained strength means that Accoya  wood offers a wealth of new opportunities 
to architects, designers and specifiers. Leading applications include external 
doors and windows, shutters/shading, siding and cladding, decking, outdoor 
furniture/equipment and glulam beams for structural use. 
Tricoya  Wood Elements (www.tricoya.com) is Titan Wood's proprietary technology 
for the acetylation of wood fibres, 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 which were once limited to solid wood or 
man-made products. Tricoya  Wood Elements is 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. The environmentally 
responsible process protects wood from rot by making it "inedible" to most 
micro-organisms and insects, 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. Acetylated wood's increased durability offers 
major carbon sequestration advantages, compared to other woods and man-made 
building materials such as steel, vinyl, and plastic. 
Wood Composites include a range of derivative wood products which are 
manufactured by binding together the strands, particles, fibres, or veneers of 
wood together with adhesives to form composite materials. These products are 
engineered to precise design specifications which are tested to meet national or 
international standards. 
 
  ACCOYA , TRICOYA , the Trimarque Device and the Elements logo  are registered 
    trademarks owned by Titan Wood Limited and may not be used or  reproduced 
                          without written permission. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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