Re Agreement
28 May 2003 - 5:00PM
UK Regulatory
RNS Number:5834L
Symphony Plastic Technologies PLC
28 May 2003
For Immediate Release 28 May 2003
Symphony Plastic Technologies plc
Inaugural supply agreement
Symphony Plastic Technologies plc ("Symphony" or "the Group"), the degradable
plastics company, is pleased to announce that it has entered into a
non-exclusive agreement with East Coast Flexibles, one of South Africa's most
dynamic manufacturers of flexible plastic products, whose customers include
Elida Ponds (subsidiary of Unilever S.A. (Pty) Ltd) and Cadbury's, amongst
others.
The agreement is for Symphony to supply sufficient degradable additive over the
next 12 months for East Coast Flexibles to manufacture and market not less than
800 tonnes of finished product which will carry Symphony's d2w(TM) logo.
Commenting on the agreement, Michael Laurier, Chief Executive of Symphony, said:
"We expect the deal with East Coast Flexibles to be one of many future
transactions of this kind. Symphony's degradable technology is rapidly becoming
well known throughout the world and, in view of South Africa's progressive
attitude towards the importance of environmental issues, we are delighted to
have increased our exposure to this emerging market."
For more information, please contact:
Allan Blacher Tel: 020 8207 5900
Chief Operating Officer, Symphony
Bobby Morse/Louise Bolton Tel: 020 7466 5000
Buchanan Communications
This information is provided by RNS
The company news service from the London Stock Exchange
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