Symphony Env. Regulatory News (SYM)

14 Jul 2006 09:49

Symphony Plastic Technologies PLC14 July 2006 Symphony Plastic Technologies plc Annual General Meeting Statement Today at the Annual General Meeting of Symphony Plastic Technologies plc ("Symphony"), Nirj Deva, Chairman, will make the following statement toshareholders: "The Board believes that Symphony has now started to turn the corner followingthe successful defence of the legal challenge to our core business andtechnology as well as continuing positive developments in the global markets forour d2w plastic technology as generally reported on the 15th June 2006. 2005 was a challenging year but also a year of evolution in which a new and moreexciting strategy was implemented. We are becoming a more flexible business,operating on lower cost and higher operating margins. It is no longer our mainfocus to compete against the finished product suppliers and our new strategyallows us to work in harmony with them. The positive impact of this new strategy will begin to be reflected in theresults in the second half of 2006 and thereafter. With many of the major distractions and problems of the past few years behind uswe are now in a position to develop all areas of the business, such as corporategovernance, unhindered. Further statements on these will be made in due course. We look forward to exciting times ahead for 2006 and 2007". For more information, please contact: Symphony Plastic Technologies PlcMichael Laurier, CEO +44 (0)20 8207 5900 Citigate Dewe RogersonFreida Moore / Ged Brumby +44 (0) 20 7638 9571 Further information on Symphony Plastic Technologies plc: Symphony develops and supplies environmentally responsible pro-degradentadditives as well as plastic packaging products. The Group's main technology,marketed under the d2w(R) registered trademark, causes plastic to degrade,leaving only water, a minimal amount of carbon dioxide and trace amounts ofnon-toxic biomass over a short time period. The d2w(R) product range includespro-degradent additives developed for an increasing variety of applications aswell as a range of finished flexible plastic products. Symphony has a diverse customer base in the UK and has successfully establisheditself as an international business after signing distribution agreements withcompanies in Brazil, Canada & USA, India, New Zealand, South Africa, theCaribbean, Saudi Arabia, Colombia and Qatar. d2w(R) products can already befound in more than 40 countries. Further information on Symphony can be found at www.symphonyplastics.com andwww.degradable.net. Ends. This information is provided by RNS The company news service from the London Stock Exchange