At the Annual General Meeting of the Company, held today, Nirj Deva DL, FRSA, MEP, Chairman of the Company, made the following statement:
"Following another successful year in 2011, this year's trading, so far, has been encouraging. We are pleased with reports within our distribution network indicating strong growth going forward, and as in previous years, we expect trade to be weighted to the second half of the year.
As detailed in the 2011 Annual Report, we have invested into R&D, marketing and sales. We are currently maintaining a similar cost base, and this continued investment, we believe, will give rise to significant growth in the business in at least the medium to long term.
This is underpinned by the activity that we can see within our vast and still growing distribution network. This activity includes a momentum towards legislative change for our products in markets around the world, together with some exciting new commercial opportunities in areas such as Africa, China, India and the USA.
Our products were well received in March at The International Plastics Showcase (or "NPE2012") trade show in the USA, the largest global packaging show, and at other exhibitions and presentations in Brazil, Central America, and China. In particular, we saw good interest for our d2p antimicrobial and antifungal ranges, particularly for inclusion within food applications where it can lead to a net saving for food producers.
At the NPE2012 we launched our new d2t range. d2t adds trace or tagging technology as a further packaging solution and is being offered through our distribution network. We see d2t as an answer to the trillion dollar counterfeiting issue, especially where expensive products are wrapped in plastic.
The Waste-to-Value business continues to develop. Our intention is to commercialise this business as soon as possible, and we are confident that this is achievable in the not too distant future. The RuPERT project has been granted an extension by the Government from June to December this year.
The Board believes that we have put in place a platform for growth with an expanding product range and distribution network we can look forward to the years ahead with confidence."
Symphony Environmental Technologies plc
Michael Laurier, CEO
Ian Bristow, FD
Tel: +44 (0)20 8207 5900
Seymour Pierce Limited
Stewart Dickson / Freddy Crossley (Corporate Finance)
Katie Ratner / Jacqui Briscoe (Corporate Broking)
Tel: +44 (0)20 7107 8000
Nick Rome/Shabnam Bashir
Tel: +44 (0)20 7562 3350
NOTES TO EDITORS:
About Symphony Environmental Technologies plc
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC is a specialist in controlled-life plastictechnology and products - a system that works by a process called oxo-biodegradation. The technology is branded d2w® and appears as a droplet logo on many thousands of tonnes of plastic packaging and other plastic products.
Symphony's d2w® technology turns plastic at the end of its service-life into a material with a completely different molecular structure. At that stage it is no longer a plastic and can be bioassimilated in the open environment in the same way as a leaf.
Symphony has a diverse and growing customer-base and has established itself successfully as an international business with 67 distributors around the world. Products made with d2w® plastic technology can now be found in more than 96 countries and in many different product applications.
Symphony is a member of The British Plastics Federation (BPF), the Oxo-biodegradable Plastics Association (www.biodeg.org), and the Society for the Chemical Industry (UK). Symphony is also a member of the European Organisation for Packaging & the Environment (Europen), and the Pacific Basin Environmental Council, Symphony 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).
Symphony also supplies d2p anti-microbial technology that can be used in most types of plastic products to help protect against infection, and has developed d2Detector, a portable device which analyses plastics and detects counterfeit products.
Symphony is also developing innovative and cost-effective waste-to-value technology to convert scrap tyres and other waste-streams into valuable products.
Symphony is accredited with ISO9001 and ISO14001
Further information on the Symphony Group can be found at www.d2w.net.
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