Accsys Technologies PLC Accsys-INEOS Tricoya(R) Joint Venture (0737P)
19 Octubre 2012 - 1:07AM
UK Regulatory
TIDMAXS
RNS Number : 0737P
Accsys Technologies PLC
19 October 2012
AIM: AXS
NYSE Euronext Amsterdam: AXS
19 October 2012
ACCSYS TECHNOLOGIES PLC
("Accsys" or the "Company")
ACCSYS-INEOS TRICOYA(R) JOINT VENTURE
Further to the recently announced 50:50 joint venture with INEOS
Industries Holdings Limited ("INEOS") for the exploitation of
Accsys' intellectual property surrounding its proprietary
Tricoya(R) wood elements acetylation technology and processes,
Accsys is pleased to announce the completion of INEOS' subscription
for 23,529,412 new ordinary shares in Accsys, at a price of EUR0.17
per share. Admission of these shares onto the London Stock Exchange
and Euronext Amsterdam markets was effected today following receipt
by Accsys of subscription monies totalling EUR4,000,000.
The new joint venture company, Tricoya Technologies Limited
("TTL"), will harness INEOS' market reach and impressive
technology, licensing and intellectual property expertise to help
develop and exploit Accsys' Tricoya technology for use within MDF,
particle board and wood plastic composites.
Accsys and INEOS are now working closely together to ensure the
future success of TTL and the Tricoya(R) brand in a worldwide panel
products market estimated to be worth more than EUR60 billion
annually.
Paul Clegg, Accsys' Chief Executive Officer, commented: "We are
very pleased and encouraged to be able to welcome INEOS, a global
petrochemical player and a global leader in the field of technology
development and licensing, as a significant shareholder in Accsys.
This EUR4,000,000 investment, together with INEOS' commitment to
the Tricoya Technologies Limited joint venture strengthens Accsys'
position as the undisputed world leaders in wood modification
technology and enhances our ability to deliver value from our
technology platform."
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via Citigate
PLC Hans Pauli, COO Dewe Rogerson
Nominated Adviser: Oliver
Cardigan
Corporate Broking: Christopher
Wilkinson +44 (0)20 7260
Numis Securities Ben Stoop 1000
Ginny Pulbrook +44 20 7282 2945
Malcolm Robertson +44 20 7282 2867
Citigate Dewe Rogerson Suzanne Bakker +31 20 575 4023
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(R) wood and 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 Windsor, United Kingdom, and an
American office in Dallas, Texas (via its subsidiary Titan Wood,
Inc). All group subsidiaries are ultimately 100% owned by Accsys
and trade as Accsys Technologies. 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 by NYSE Euronext,
under the symbols 'AXS'. Accsys' operations comprise three
principal business units: (i) Accoya(R) wood production; (ii)
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
(iii) the licensing of technology for the production of Accoya(R)
wood and Tricoya(R) wood elements across the globe.
INEOS (http://www.ineos.com) is one of the world's leading
chemicals companies; a global manufacturer of petrochemicals,
specialty chemicals and oil products. Comprising 15 businesses,
with a production network spanning 51 manufacturing facilities in
11 countries. The company produces more than 40 million tonnes of
petrochemicals. INEOS employs 15,000 people and had sales in 2011
of $42bn. Through its Joint Venture with PetroChina (petroineos) it
produces 20 million tonnes per annum of crude oil refined products
(fuels). It also operates joint ventures with BASF, PQ Corp and
Total. The investment in the new joint venture is being made by
INEOS Industries Limited.
INEOS Technologies (http://www.ineos.com) is a leading developer
and licensor of technologies for the global petrochemicals
industry. It offers the broadest range of petrochemical
technologies on the market today and also supplies catalysts,
additives and coatings that our customers require to obtain the
best possible performance from their investments.
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 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 that were once limited to solid wood or
man-made products. Tricoya(R) 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 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.
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.
Unlike most tropical and European hardwoods, its colour does not
degrade when exposed to ultraviolet light. Moreover, the Accoya(R)
wood production process does not compromise the wood's strength or
machinability. The combination of UV resistance, dimensional
stability, durability and retained strength means that Accoya(R)
wood offers a wealth of new opportunities to architects, designers
and specifiers. For marine uses where weight is also important,
Accoya(R) wood for the first time provides boat builders with a
wood that is strong, lightweight, durable and retains its natural
beauty for far longer. For a full archive of Accoya(R) news, visit
www.accoya.com/news.asp.
This information is provided by RNS
The company news service from the London Stock Exchange
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