Accsys Tech Regulatory News (AXS)

25 Jun 2007 07:02

Accsys Technologies PLC25 June 2007 25th June 2007 AIM: AXS Accsys announces 500,000 cubic metre Agreement with Skanfore Accsys Technologies PLC ("Accsys" or "the Company") announces that its 100%owned subsidiary, Titan Wood Ltd., has signed a licence agency agreement withSkanfore S.A. ("Skanfore"), who will take the rights for a nameplate capacity of500,000 cubic metres of production of Accoya(TM) wood. Terms of the agreement include Skanfore paying a premium of €10 million inconsideration for the right to market Accoya technology in certain markets,principally outside Europe and North America. The premium is equivalent to 10%of the total technology fee, at list prices, for half a million cubic metres ofAccoya(TM) wood production capacity. Skanfore will identify, introduce and leadnegotiations for licence agreements for Titan Wood's proprietary Accoya(TM) woodproduction process and develop new markets for the Company. The agreementinvolves sales, logistics, financing options, regional product marketing andoff-take requirements. The agreement is expected to broaden the scope andcapability of the uptake of Accoya(TM) technology around the world. Willy Paterson-Brown, Executive Chairman, of Accsys commented, "Accsys hasentered a new phase of growth and this agreement solidifies a relationship thatwe have built over the past couple of years. Skanfore offers us a faster routeto market both for relationships with licensees but also the development andawareness of the Accoya wood brand across a large geographic spectrum. I amparticularly pleased with Skanfore's significant financial commitment to ourbusiness, emphasised by the scale of the premium negotiated for the rights whichrepresents the first meaningful licence revenue for the Company." David Popejoy, Managing Director of Skanfore, said: "The more we looked intoAccoya and the potential reach of this revolutionary new product, the more weliked it. Our business focus started in the Middle East but we now havediscussions going on in a number of different countries and regions. There is noquestion the commercial interests in Accoya will accelerate considerably overthe course of the next year. We will also be working closely with Celanese tosecure long term commitments with Accoya(TM) licensees". The Company announced in March that commercial production of Accoya(TM) wood atTitan Wood's new 30,000 m3 Arnhem facility was underway. The Company's orderbooks are full through to the end of 2007 and beyond, with production committedinto a wide range of different product applications, from civil construction tojoinery. First licence revenue has been keenly anticipated. ENDS For further information, please contact: Accsys Technologies PLC William Paterson-Brown, +44 (0) 20 8144 2510 Executive Chairman Collins Stewart Limited Tim Mickley / Michael O'Brien +44 (0) 20 7523 8000 Parkgreen Communications Justine Howarth / Clare Irvine +44 (0) 20 7851 7480 Notes to Editors Skanfore LLC (www.skanfore.com) is a privately owned, diversified tradingcompany, based in Abu Dhabi, UAE, with interests in mining, engineering,construction, finance and environmental projects. Skanfore S.A. is a BVIcompany. Titan Wood Limited (www.titanwood.com) is a wholly owned subsidiary of theAccsys Technologies PLC (www.accsysplc.com) group of companies. AccsysTechnologies PLC is listed on the London Stock Exchange AiM market under thesymbol 'AXS'. Celanese (www.celanese.com) - As a global leader in the chemicals industry,Celanese Corporation (NYSE: CE) makes products essential to everyday living.Our products, found in consumer and industrial applications, are manufacturedin North America, Europe and Asia. Net sales totaled $6.7 billion in 2006, withapproximately 60% generated outside of North America. Known for operationalexcellence and execution of its business strategies, Celanese delivers value tocustomers around the globe with innovations and best-in-class technologies.Based in Dallas, Texas, the company employs approximately 8,900 employeesworldwide. Celanese and Accsys signed a strategic relationship agreement inMarch 2007. Wood Acetylation is a process, which increases the amount of 'acetyl' moleculesin wood, thereby changing its physical properties. The process protects woodfrom rot by making it "inedible" to most micro-organisms and insects, without -unlike conventional treatments - making it toxic. It also greatly reduces thewood's tendency to swell and shrink, making it less prone to cracking andensuring that when painted it requires dramatically reduced maintenance. Accoya(TM) wood (www.accoya.info) is produced using a patented process thateffectively converts sustainably grown softwoods and non-durable hardwoods intowhat is best described as a 'new wood species'. Distinguished by its durability,dimensional stability and, perhaps most importantly of all, its reliability (interms of consistency of both supply and quality), Accoya(TM) 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(TM) 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(TM) wood offers a wealth of new opportunities to architects, designers and specifiers. For marine uses where weight is also important, Accoya(TM) wood for the first time provides boat builders with a wood that is strong, lightweight, durable and which retains its natural beauty for far longer. ACCOYA is a registered trademark owned by Titan Wood Limited This information is provided by RNS The company news service from the London Stock Exchange