Biome Tech Regulatory News (BIOM)

30 Aug 2005 07:03

Stanelco PLC30 August 2005 30 August 2005 Stanelco PLC ("Stanelco" or "the Company") Supply Agreement with NatureWorks LLC Stanelco, the radio frequency (RF) applications Group, is pleased to announcethat it has entered into a supply agreement with NatureWorks LLC, a wholly ownedsubsidiary of Cargill Inc. The agreement covers the supply of NatureWorks PLA,(Polylactide, a starch derivative), which is the largest component of Stanelco'srecently announced Starpol 2000TM range of biodegradable, compostable plasticmaterials. This relationship will materially assist commercialisation of Starpol 2000TMinto Stanelco's target application segments and it is planned that a minimum of15,000 tonnes of Starpol 2000TM will be produced and sold within the next 12months. Starpol 2000TM is available in a range of blends that can be formed into sheetmaterial for products such as short shelf-life food trays, modified atmospherepackaging (MAP) trays and blown films for a diverse range of products includingcarrier bags, compost bags, waste bags and agricultural films Howard White, president of Stanelco Inc and Stanelco PLC group managing directorsaid: "This is a landmark agreement that further demonstrates the materials created byBiotec are both ground breaking and commercial.. We have been actively carryingout pre-production runs of the material with a number of major corporations inboth the Europe and North America. Starpol 2000TM has demonstrated afunctionality far beyond any other current biodegradable alternative and at anoverall cost that is competitive with the existing plastics used in our targetmarket, namely food packaging. We are also in trials with our partners forseveral variations of the material to be used for a number of applications suchas shopping bags, waste bags and a variety of general packaging usages. Just as importantly, the material is also easily sealable with our GREENSEALTMtechnology project which continues, to progress well and which will enable us tooffer a complete biodegradable, environmentally responsible packaging solutionat a competitive cost" Snehal Desai, NatureWorks LLC Commercial Vice President said: "We are delighted with the diversity, functionality and competitiveness of theStarpol 2000TM range of products and believe the marketplace will welcome thisbroad extension of offerings of NatureWorks PLA based materials." - ends - For further information please contact:Ian Balchin, 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), FrogPack high impact low cost packaging format,CradleWrap range of biodegradable air cushion packaging, Soluble tape, 100%water-soluble films and adhesives, Biodegradable Airbag (void fill) packaging,water-soluble detergent capsules, edible sachets and waste packing. GREENSEAL, STARPOL, Frog Pack and CradleWrap are all trademarks of the Stanelcoplc group. The acquisition of Biotec Holdings GmbH and its subsidiaries remains subject toshareholder approval at an EGM on 30th August 2005. About NatureWorks LLC Based in Minnetonka, Minn., USA, NatureWorks LLC is the first company to offer afamily of commercially available polymers derived 100 percent from annuallyrenewable resources with cost and performance that compete with petroleum-basedpackaging materials and fibers. The company applies its unique technology to theprocessing of natural plant sugars to create a proprietary polylactide polymer,which is marketed under the NatureWorks(R) PLA and IngeoTM fiber brand names. NatureWorks is a registered trademark of NatureWorks LLC. This information is provided by RNS The company news service from the London Stock Exchange