Symphony Env. Regulatory News (SYM)

15 Jun 2006 07:02

Symphony Plastic Technologies PLC15 June 2006 Symphony Plastic Technologies plc Sales Progress Symphony Plastic Technologies Plc ("Symphony"), the degradable plastics company,would like to update the market on the progress of its new sales strategy whichwas announced in September 2005 and further reported on at the PreliminaryResults on 27th April 2006. This new corporate strategy includes thestrengthening of the international network of distributors and focusing on salesof d2w(R) pro-degradent additive rather than on finished flexible plasticproducts. Sales activity by Symphony and its distributors, and interest in degradableplastics, continues to build and there have been a number of noteworthysuccesses with new applications in new market sectors. Business has been wonwith new customers many of whom are household names in different parts of theworld. These sales gains do not individually justify corporate announcement buttheir collective strategic importance is material and reaches beyond the valueof the actual sales involved. In addition to the strategic benefits arising from association with theseprestigious new customers, the d2w(R) droplet trademark is becoming ever morewidely visible and accepted as the recognised international symbol fordegradability. Some specific examples of this progress in sales are: • In Brazil, through Symphony's exclusive distributor RES, the second largest beverage company, Schincariol, has recently launched a major advertising and promotional campaign following the adoption of d2w(R) degradable technology to wrap all its bottles and cans. • In the United Kingdom, the leading consumer magazine publisher, IPC Media, are using d2w(R) degradable technology for all their newsstand bagging which includes magazine titles such as Marie Claire and Homes & Gardens. • In Hong Kong, through Symphony's agent, Supreme Development Company, the leading bulk rice packer, Golden Resources - who account for over 60% of the market - will be using d2w(R) degradable technology in all their rice bags from July 2006. • In the international hospitality industry both Royal Caribbean International and Marriott Hotels are using products incorporating d2w(R) degradable technology to minimise the impact of their activities on the environment. • In England, some fruit given to children under the "School Fruit and Vegetable Scheme" is now being packed in d2w(R) totally degradable plastic bags. • In South Africa, through Symphony's licensee Astrapak, the country's leading dedicated packaging manufacturer, all major retailers - including Pick ' n Pay, Shoprite, Woolworths and Spar - are now using d2w(R) totally degradable plastic bags in their retail operations. Michael Laurier, Chief Executive, said: By focusing on sales of our unique additive, and by working closely with endusers to meet their product needs, we are beginning to see our technology andtrademark being used by valuable new customers in innovative applications acrossthe world. Recent widely publicised statements by market leading retailers in the UK, andUSA, together with the continuing legislative intent to deal with the problemsof plastic waste, are adding to the increasing motivation of suppliers andmanufacturers to take active steps towards adopting more environmentallyfriendly plastics. The momentum generated by this activity can only be positive and, with that inmind, we intend to maintain the pace and intensity of our efforts. For further information, please contact: Symphony Tel: 020 8207 5900Michael Laurier, CEOIan Bristow, FD Panmure Gordon & Co Tel: 020 7614 8385Andrew Godber Citigate Dewe Rogerson Tel: 020 7638 9571Ged BrumbyFreida Moore 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. End This information is provided by RNS The company news service from the London Stock Exchange