New Degradable Additive
14 July 2003 - 11:17PM
UK Regulatory
RNS Number:5197N
Symphony Plastic Technologies PLC
14 July 2003
For Immediate Release 14th July 2003
Symphony Plastic Technologies plc
Commencement of use of new degradable additive and
Termination of EPI License
Following successful independent trials and approval by existing customers,
Symphony's new d2wTM totally degradable range of products will replace those
previously made with EPI additive, and will be sold exclusively under Symphony's
own d2wTM brand. In addition to the finished products, Symphony is now marketing
a range of d2wTM additives. This transition considerably strengthens Symphony's
competitive position and opens new commercial opportunities. The initial
benefits from these changes were recently announced in respect to South Africa.
The License between Symphony Plastic Technologies plc ("Symphony" or "the
Company") and EPI, under which Symphony was permitted to use EPI trademarks on
products made with EPI's additives, which was entered into on 20th June 2000,
has been terminated. Following the re-negotiation of the license with EPI in
November 2002, this termination will not result in any financial payment.
Michael Laurier, CEO of Symphony said:
"The market for degradable products has expanded considerably as a result of the
collaboration between EPI and Symphony over the past few years. Our business has
grown rapidly and, in order to take Symphony on to the next stage of its
development, we believe it is in our and shareholders interest to control all
key aspects of our degradable plastics solution."
For more information, please contact:
Michael Laurier Tel: 020 8207 5900
Chief Executive, Symphony
Bobby Morse/Rebecca Dietrich 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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