Symphony Env. Regulatory News (SYM)

30 Jan 2006 11:41

Symphony Plastic Technologies PLC30 January 2006 Symphony Plastic Technologies PLC Judgment in the Court of Appeal Symphony Plastic Technologies ("Symphony"), the degradable plastics company,today reports that the formal handing down of the Judgment by the Court ofAppeal has taken place following the Appeal brought by EPI EnvironmentalProducts Inc ("EPI") against the Judgment of the High Court of 21st December2004 in favour of Symphony. In addition to documenting the reasons for its decision (announced on 19thDecember 2005) to dismiss the Appeal, the Court also considered the question ofcosts. Symphony has been awarded its full costs for the Appeal which are to beassessed against EPI on an indemnity basis. In addition, an interim award toSymphony of £600,000 was ordered for immediate settlement from funds previouslylodged by EPI with the Court as security for Symphony's costs. Michael Laurier, Chief Executive Officer of Symphony, said:"The dismissal of all aspects of EPI's Appeal in December has now been clearlyreflected in the Court's decision on the award of costs to Symphony. Now thatthe legal process on the central issues is largely completed we are very pleasedto be able to re-focus our attention on the opportunities facing us". For more information, please contact: For further information:Symphony Plastic Technologies PlcMichael Laurier, CEOAllan Blacher, COO +44 (0)20 8207 5900 Citigate Dewe RogersonPatrick Toyne Sewell / Ged Brumby +44 (0)20 7638 9571 Further information on Symphony Plastic Technologies plc Symphony develops and supplies environmentally responsible plastic packagingproducts and additives, which are distributed primarily to the retail, localauthority and health related sectors. The Group's main technology, d2w(R),allows plastic to degrade, leaving only water, a minimal amount of carbondioxide and trace amounts of non-toxic biomass over a short time period. The d2w(R) product range now includes additives, carrier bags, refuse sacks, mailingwrap, stretch film, and packaging films. Symphony has a strong blue-chip customer base in the UK and has successfullyestablished itself as an international business after signing distributionagreements with companies in Brazil, Canada & USA, New Zealand, South Africa,the Caribbean, Saudi Arabia, Colombia and Qatar. Further information on Symphonycan be found at www.symphonyplastics.com. This information is provided by RNS The company news service from the London Stock Exchange