TIDMAXS
RNS Number : 0420B
Accsys Technologies PLC
18 September 2018
AIM: AXS
Euronext Amsterdam: AXS
18 September 2018
ACCSYS TECHNOLOGIES PLC
("Accsys" or "the Company")
Annual General Meeting Statement
Accsys, the fast growing and sustainable chemical technology
group, today announces that in advance of its Annual General
Meeting, to be held at 2.30 p.m. (UK time) this afternoon, its
Chief Executive, Paul Clegg, has made the following comments:
"I am pleased to report that total revenue for the five months
to 31 August 2018 increased by 10% to EUR26.7m (2017: EUR24.3m)
(unaudited). Accoya(R) production volumes increased to 16,918 cubic
metres in the same period (2017:16,124 cubic metres), reflecting
the continued constraint on the current existing capacity in
Arnhem.
In the period we successfully commissioned the third Accoya(R)
reactor in Arnhem and have been carrying out planned gradual
production volume increases since July. Demand continues to exceed
our current production levels and we therefore expect production
and sales volumes to increase substantially over the remainder of
the financial year.
We continue to make good progress in respect of the construction
of the Tricoya(R) plant in Hull, with significant construction work
having been undertaken on site. The key equipment is starting to be
delivered to the site and we expect completion of construction in
mid-2019 calendar year.
In July we announced additional funding which will allow us to
develop key new growth markets more quickly including USA and Asia,
where we are in discussions with potential partners who are
interested in developing new production capacity for both Accoya(R)
and Tricoya(R) . It will also enable us to accelerate certain
projects to further increase the capacity and efficiency of the
Arnhem plant beyond 60,000 cubic metres.
Our interim financial statements for the six months ended 30
September 2018 are expected to be released on 20 November
2018."
ACCSYS TECHNOLOGIES PLC
("Accsys" of "de Vennootschap")
Verklaring jaarlijkse algemene vergadering
Accsys, de snelgroeiende en duurzame chemische technologiegroep,
kondigt vandaag aan dat in de aanloop naar haar jaarlijkse algemene
vergadering, die om 14.30 uur (Engelse tijd) zal worden gehouden
vanmiddag de Chief Executive, Paul Clegg, de volgende opmerkingen
heeft gemaakt:
"Ik ben verheugd te kunnen melden dat de totale omzet in de vijf
maanden tot 31 augustus 2018 met 10% is gestegen ten opzichte van
dezelfde periode vorig jaar tot EUR26,7 miljoen (2017: EUR24,3
miljoen) (niet gecontroleerd). Het productievolume van Accoya is in
dezelfde periode gestegen tot 16.918 kubieke meter (2017: 16.124
kubieke meter) ondanks de beperking in die periode van de bestaande
capaciteit van Arnhem.
In deze periode hebben we de derde Accoya(R) -reactor in bedrijf
genomen en hebben we sinds juli volgens plan het productievolume
geleidelijk opgevoerd. De vraag blijft ons huidige productieniveau
overstijgen en we verwachten derhalve dat productie- en
verkoopvolume in de rest van het boekjaar aanzienlijk zullen
stijgen.
Zoals aangekondigd in onze financiële resultaten in juni, boeken
we opnieuw goede vooruitgang met de bouw van de Tricoya(R) -fabriek
in Hull, waar aanzienlijke bouwwerkzaamheden op de locatie zijn
uitgevoerd. Met de levering van de belangrijkste apparatuur wordt
begonnen vóór de voltooiing van de bouw, die medio 2019 wordt
verwacht.
In juli kondigden we aanvullende financiering aan waarmee we
belangrijke nieuwe groeimarkten sneller kunnen ontwikkelen,
waaronder de Verenigde Staten en Azië, waar we in gesprek zijn met
potentiële partners die geïnteresseerd zijn in het ontwikkelen van
nieuwe productiecapaciteit voor zowel Accoya(R) als Tricoya(R) .
Het zal ons ook in staat stellen om bepaalde projecten te
versnellen om de capaciteit en efficiëntie van de fabriek in Arnhem
verder te verhogen tot boven de 60.000 kubieke meter.
Onze tussentijdse financiële staten voor de zes maanden
eindigend op 30 september 2018 zullen naar verwachting worden
vrijgegeven op 20 november 2018."
Ends
For further information, please contact:
Accsys Technologies Paul Clegg, CEO via MHP Communications
PLC Will Rudge, FD
Hans Pauli, Executive Director,
Corporate Development
Nominated Adviser:
Jamie Lillywhite
Corporate Broking:
Christopher Wilkinson +44 (0) 20 7260
Numis Securities Ben Stoop 1000
Tim Rowntree +44 (0) 20 3128
MHP Communications Kelsey Traynor 8100
Frank Neervoort +31 681 734 236
Off the Grid (The Netherlands) Yvonne Derkse +31 622 379 666
Notes to editors:
Accsys Technologies PLC (www.accsysplc.com) is a chemical
technology group whose primary focus is on the production of
Accoya(R) wood and Tricoya(R) wood elements, technology licensing
via its subsidiary, Titan Wood Limited, which has manufacturing
operations in Arnhem, the Netherlands (through its subsidiary Titan
Wood B.V.), a European office in London, United Kingdom, an
American office in Dallas, Texas (via its subsidiary Titan Wood,
Inc.) and technology licensing associated with the acetylation of
wood elements via its subsidiary Tricoya Technologies Limited. Any
references in this announcement to agreements with Accsys shall
mean agreements with either Accsys or its subsidiary entities
unless otherwise specified. Accsys Technologies PLC is listed on
the London Stock Exchange AIM market and on Euronext Amsterdam,
under the symbols 'AXS'. Accsys' operations comprise four principal
business units: (i) Accoya(R) wood production; (ii) building and
operating of Tricoya(R) wood chip acetylation plant in Hull; (iii)
technology development, focused on a programme of continuous
development of and improvements to the process engineering and
operating protocols for the acetylation of solid wood and the
development of technology for the acetylation of wood elements; and
(iv) the licensing of technology for the production of Accoya(R)
wood and Tricoya(R) wood elements across the globe.
Accoya(R) Wood (www.accoya.com) is produced using Accsys'
proprietary patented acetylation technology that effectively
converts sustainably grown softwoods and non-durable hardwoods into
what is best described as a "high technology wood". Distinguished
by its durability, dimensional stability and, perhaps most
importantly of all, its reliability (in terms of consistency of
both supply and quality), Accoya(R) wood is particularly suited to
exterior applications where performance and appearance are valued.
Moreover, the Accoya(R) wood production process does not compromise
the wood's strength or machinability. The combination of
dimensional stability, durability and retained strength means that
Accoya(R) wood offers a wealth of new opportunities to architects,
designers and specifiers. These benefits result in lower
maintenance and total cost of ownership while using a highly
sustainable and environmentally responsible building material. For
a full archive of Accoya(R) news, visit www.accoya.com/news.
Tricoya(R) Wood Elements (www.tricoya.com) are produced using
Accsys' proprietary technology for the acetylation of wood chips
and particles for use in the fabrication of panel products such as
medium density fibreboard and particle-board. These products
demonstrate enhanced durability and dimensional stability which
allow them to be used in a variety of applications that were once
limited to solid wood or man-made products. Exploitation of Accsys'
proprietary technology relating to Tricoya(R) Wood Elements is
carried out through Tricoya Technologies Limited. Tricoya(R) Wood
Elements are lauded as the first major innovation in the wood
composites industry in more than 30 years.
Wood Acetylation is a process which increases the amount of
naturally occurring 'acetyl' molecules in wood, thereby changing
its physical properties. When carried out to a sufficient level
throughout the wood, this process protects wood from rot by making
it "inedible" to most micro-organisms and fungi, without - unlike
conventional treatments - making it toxic. It also greatly reduces
the wood's tendency to swell and shrink, making it less prone to
cracking and ensuring that, when painted, it requires dramatically
reduced maintenance.
Accsys Technologies is the trading name of Titan Wood Limited.
Accoya(R) , Tricoya(R) and the Trimarque Device are registered
trademarks owned by Titan Wood Limited ("TWL"), a wholly owned
subsidiary of Accsys Technologies PLC, and may not be used or
reproduced without written permission from TWL, or in the case of
the Tricoya(R) registered trademark, from Tricoya Technologies
Limited, a subsidiary of TWL with exclusive rights to exploit the
Tricoya(R) brand.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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