Biome Tech Regulatory News (BIOM)

10 Aug 2006 12:25

Stanelco PLC10 August 2006 10th August 2006 Stanelco plc Re agreement with ASDA Stanelco plc ("Stanelco") is pleased to announce an update regarding itsGreenSeal technology following its initial 12 month exclusivity period withASDA. Stanelco will continue to work with ASDA as they support our GreenSealtechnology as a way to achieve part of ASDA'S greater business objective ofmeeting their obligations around sustainability. The original terms of the agreement between ASDA and Stanelco, as announced on24 March 2005, for Stanelco's GREENSEAL technology have been extended foranother 12 months, other than the exclusivity arrangement with ASDA which hasbeen waived. This will allow Stanelco to offer the GREENSEAL technology tonon-exclusive ASDA suppliers, as well as ASDA. Martin Wagner, CEO of Stanelco said: "This is an important development with ASDA and shows the strength of ourrelationship. Whilst all the major components of our agreement remain ASDA haveagreed to relax the exclusivity of usage for non ASDA suppliers. This meansthat suppliers to ASDA who also pack for other retailers can now be approached. A significant hurdle for us has been identifying packing lines that wereexclusively for ASDA usage. By removing this obstacle we can now effectivelyoffer our GreenSeal technology to any user. This negotiation with ASDA has beenover a protracted period of time and we are grateful for their unwaveringsupport." - Ends - For further information please contact: Martin Wagner, Chief Executive OfficerStanelco PLCTel: +44 (0)2380 867 100 Jonathon Brill/Caroline StewartFinancial 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