LONDON (Alliance News) - Symphony Environmental Technologies PLC said Friday that Deputy Chairman of the board Michael Stephens will retire from the board, and its current trading in the year so far is consistent with 2014.
In a statement at the company's annual general meeting Symphony said it is continuing to generate momentum in all operating parts of its business.
Its oxo-biodegradable plastics technology is expanding into new markets, the company said, and product trials and order negotiations are continuing at a high level for this business.
Symphony remains cautious on the timing of new orders for both its anti-fungal and anti-bacterial plastics and its oxo-biodegradable plastics due to the " the complexities involved with trials, evaluations and the whole decision making process."
Stephens, who is also commercial director, will retire from the board to allow him to focus " more of his time and energy on executing the high level of technical input required on closing the many major projects in which Symphony is engaged," Chief Executive Michael Laurier said in the statement.
Shares in Symphony Environmental are trading up 2.4% at at 8.96 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Symphony Env. (SYM)