Accsys Tech Share News (AXS)

Accsys Technologies, an environmental science and technology company, has agreed to supply a non-toxic, non-rotting material to Medite Europe, for the production of a new brand of Medite Tricoya panels.The material supplied by Accsys, which is known as acetylated material, a medium density fibre board to be made using Accsys's acetylation technology, has significantly accelerated the introduction of the Tricoya product to the market. The company also announced that it has achieved a 4% gross manufacturing margin in the first quarter, whilst reducing its other operating costs by 16% compared on a like-for-like basis with the previous year. The statement read, "in the first quarter, Accsys continued to deliver on its strategy of seeding the market with its Accoya product, maintaining a focus on tight cost control and continuing to explore licensing opportunities." The first shipments of the Medite Tricoya product are expected to reach the market within this financial year.Medite has been granted exclusive rights to manufacture, market, sell and distribute Medite Tricoya in the Netherlands in addition to the United Kingdom and the Republic of Ireland.Paul Clegg, chief executive officer of Accsys, said,: "By supplying acetylated material to Medite for processing we have been able to bring Tricoya® to the market two years earlier than had been expected." NR