Biome Tech Regulatory News (BIOM)

16 Dec 2005 07:01

Stanelco PLC16 December 2005 16 December 2005 Stanelco plc ("Stanelco") Stanelco awarded funding assistance for new Research and Development facility in Wales Stanelco is delighted to announce that is has been made a significant offer ofRegional Selective Assistance funding in relation to a proposed production and R&D facility in Blaenau Gwent in Wales. The offer of funding will allow Stanelcoto create a facility investing around £3m to allow production and furtherdevelopment of materials using Biotec's technologies for use in replacingconventional plastic for packaging and other applications with biodegradablealternatives from replenish able sources such as starch. Stanelco are pleased to be able to work with the Welsh Assembly Government andBlaenau Gwent County Borough Council on a project which will help bring over 60new jobs and regeneration to the local community on a project which will helpbusiness to be more environmentally responsible. Andrew Davies, Minister for Economic Development and Transport said: "I am delighted that we have been able to support Stanelco in this significantdevelopment. The £3m investment will not only lead to the creation of over 60high quality employment opportunities, but will further strengthen our R & Dbase in this innovative and environmentally important area." Ends For further information, please contact: Martin Wagner, Chief ExecutiveStanelco PLCTel: +44 (0)2380 867 100 Jonathon Brill/Billy CleggFinancial DynamicsTel: +44 (0)20 7831 3113 About Stanelco plc The Stanelco Group of companies (the Group) has brought together expertise inradio frequency (RF) technology, RF applications and biodegradable materialsciences to create a revolutionary range of packaging technologies. Stanelco's philosophy is that new products and processes must offer solutionsand applications which: • give higher added value, • are greener, more environmentally sustainable than those they replace and • have protectable intellectual property rights. Stanelco will develop the products and processes to a demonstration stage andthen work with partners in order to reach the markets; and under thesecircumstances Stanelco will usually seek to license its technology. Stanelcoinvests considerable time and resources in ensuring its technologies areprotected via layers of patents wherever possible. In this way Stanelco believes it can minimise commercial risk and preserve thehighest value for shareholders. The products offering the prospect of near term revenue generation are beinggiven priority over the Group's resources. Stanelco was founded in 1953 and is a world leader in the development of radiofrequency technologies for processing polymers for edible and packagingapplications and the design and manufacture of optical fibre technology,induction heating and dielectric welding equipment. Stanelco's currentdevelopments include GREENSEAL Food tray lidding technology, STARPOL (starch /pva blended material), STARPOL 2000 (highly functional, low cost biodegradablepackaging material with food contact approvals) FrogPack high impact low costpackaging format, CradleWrap range of biodegradable air cushion packaging,Soluble tape, 100% water-soluble films and adhesives, Biodegradable Airbag (voidfill) packaging, edible hard-shell capsule technology, water-soluble detergentcapsules, edible sachets and waste packing. GREENSEAL, STARPOL, FrogPack and CradleWrap are all trademarks of the Stanelcoplc group. This information is provided by RNS The company news service from the London Stock Exchange