Masisa Option Agreement Extended

RNS Number : 5569I

Accsys Technologies PLC

02 June 2014

 



AIM: AXS

NYSE Euronext Amsterdam: AXS

2 June 2014

ACCSYS TECHNOLOGIES PLC

('Accsys' or the 'Company')

Extended Licence Option Agreement between Tricoya Technologies Ltd and Masisa

Accsys, the environmental science and technology company whose primary focus is on the production and technology licensing of Accoya^® wood and Tricoya^® wood elements, notes the announcement issued today by Tricoya Technologies Ltd ('TTL'), the Company's 50:50 joint venture with INEOS Industries Holding Limited, regarding the extension of a licence option agreement between TTL and Masisa and the launch of Masisa Tricoya^® Super MDF throughout Latin America.

The TTL announcement stated:

Masisa Tricoya^® Super MDF to be launched throughout Latin America following an Extended Licence Option agreed between Tricoya Technologies Ltd ('TTL') and Masisa  

Masisa, a leading and innovative panel producer in Latin America, has agreed to carry out evaluation of Tricoya including market testing, production testing and development of finished end-products with the launch of Masisa Tricoya^® Super MDF. Masisa Tricoya^® Super MDF is an extremely durable, stable and sustainable wood-fibre based panel product with one of its key performance attributes guarantee against rot and decay with dimensional stability for 50 years when used externally. 

TTL will now be extending the two year licence option agreement signed in April 2012 which, if successful, grants Masisa exclusive production and distribution rights for Tricoya^® for the Latin American market - excluding Brazil, for which the sales and marketing rights are non-exclusive.

During the evaluation phase, the Tricoya product will be supplied by Medite Europe Ltd, TTL's joint development partner and licence holder for which a supply agreement has also been agreed.

Manufactured using Accsys Technologies' proprietary acetylation process, Medite Tricoya has enjoyed very positive feedback from customers resulting in a strong increase in demand. Medite Tricoya panels have already been used in a wide range of applications in the building and construction industry including façade claddings, exterior trim applications, exterior doors, interior wet areas and outside furniture.

Welcoming the news, Paul Clegg, Chairman of TTL and CEO of Accsys Technologies comments: "Tricoya^® Technology represents a major innovation in the wood panel industry which is pioneering a new generation of high performance and exterior use panel products. The agreement with Masisa, one of the world's leading MDF and particle board manufacturers, was initiated back in 2011/2012 and is set to significantly expand the global panel-products market estimated to be worth annually more than €60 billion.

"Our technology enables wood fibre panel products to be used in challenging exterior applications, creating completely new market opportunities for manufacturers operating in the 290 million m³ global wood based panel sector. It is already clear that Tricoya^® based panels can compete with many higher cost, non-renewable construction materials currently used for exterior and wet environment applications."

In addition, Pierre Lasson, General Manager of TTL says: "The licence option with Masisa is a significant milestone for our company, confirming that Tricoya^® technology has genuine global appeal.  This will act as a platform for further worldwide market penetration of our cutting edge technology."

"Innovation is one of Masisa's strategic axes", says Alfredo Gili, the company's Corporate Manager of the New Product Development Department. "It is because of this that we are constantly looking for exclusive and innovative products, which translates into an integral value offer to our customers by means of a wide range of products. In this sense, we are very happy for this alliance with Tricoya and certainly we will surprise our customers in Latin America."

Masisa SA has industrial facilities in Chile, Argentina, Brazil, Venezuela and Mexico as well as commercial operations in over 40 countries. Their main panel products are MDP (medium density particleboard), MDF (medium density fibreboard) and Melamine boards.

Tricoya^® is the technology of wood chip acetylation licensed by Tricoya Technologies, a 50:50 joint venture between Ineos and Accsys Technologies PLC.

Ends

For further information, please contact:

Accsys Technologies PLC	Paul Clegg, CEO Hans Pauli, COO Will Rudge, FD	via Blytheweigh
Numis Securities	Nominated Adviser: Oliver Cardigan Corporate Broking:  Christopher Wilkinson                             Ben Stoop	[phone]
Blytheweigh	Paul Weigh Alex Shilov	[phone] [phone] [phone]
Off the Grid (The Netherlands)	Frank Neervoort Giedo Van Der Zwan	[phone] [phone]

Notes to editors:

Accsys Technologies PLC(www.accsysplc.com) is an environmental science and technology company whose primary focus is on the production of Accoya^® wood and 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 Windsor, United Kingdom, and an American office in Dallas, Texas (via its subsidiary Titan Wood, Inc). All group subsidiaries are ultimately 100% owned by Accsys and trade as Accsys Technologies.  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 by NYSE Euronext, under the symbols 'AXS'. Accsys' operations comprise three principal business units: (i) Accoya^® wood production; (ii) 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 (iii) the licensing of technology for the production of Accoya^® wood and Tricoya^® wood elements across the globe.

Accoya^® 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^® wood is particularly suited to exterior applications where performance and appearance are valued. Unlike most tropical and European hardwoods, its colour does not degrade when exposed to ultraviolet light. Moreover, the Accoya^® wood production process does not compromise the wood's strength or machinability. The combination of UV resistance, dimensional stability, durability and retained strength means that Accoya^® 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 higher sustainable and environmental responsible building material. For a full archive of Accoya^® news, visit www.accoya.com/news.asp.

Tricoya^® 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 wood based composites, including panel products. These composites 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^® Wood Elements is carried out through Tricoya Technologies Limited, a joint venture between Accsys and INEOS Industries Holdings Limited.  Tricoya^® 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 '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®, TRICOYA^® 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^® registered trademark, from Tricoya Technologies Limited, a joint venture between TWL and INEOS Industries Holdings Limited with exclusive rights to exploit the Tricoya^® brand.

 

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