Brexit Trading Update

RNS Number : 3232C

Symphony Environmental Tech. PLC

27 June 2016

 

	27 June 2016

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

("Symphony", the "Company" or the "Group")

BREXIT TRADING UPDATE

Symphony Environmental Technologies Plc (AIM:SYM), global specialists in 'making plastic smarter', with d2w controlled-life, d2p anti-microbial, flame retardants, and odour adsorbers, and d2t anti-counterfeiting technologies, today announces that it does not anticipate any negative effect from the UK referendum vote last Friday to leave the European Union ("EU"), nor from a weaker GB Pound.

Symphony's products are mainly sold in US dollars and to a lesser extent in Euros to more than 90 countries around the world with most of them being outside the EU. The Group is therefore not materially exposed to any changes in the UK or European economies, and our imports from the EU represent only a small percentage of the Group's total imports.

As exporters, a weaker UK currency is beneficial for Symphony's business, as it helps to make our products more competitive in the international markets. The Group does not anticipate any negative effect on its current trade. Symphony's products and technologies are innovative and offer unique value for countries that need to make improvements to their environment, public health and food protection and to businesses which need to protect their brand against counterfeiting.

Accordingly, the Board do not consider the UK's decision to leave the EU will adversely affect the business and believe the Group will continue to trade in accordance with market expectations.

-ENDS-

Contacts

Symphony Environmental Technologies Plc
Michael Laurier, CEO	Tel: [phone]
Ian Bristow, FD
Cantor Fitzgerald Europe
David Foreman / Michael Reynolds (Corporate Finance)	Tel: [phone]
David Banks (Sales)

NOTES TO EDITORS:

About Symphony Environmental Technologies plc

Symphony has developed a range of additives, concentrates and master-batches marketed as d2p, which can be incorporated in a wide variety of plastic and non-plastic products and applications so as to give them protection against many different types of bacteria, fungi, algae, mould and insects.

In addition, Symphony has developed controlled-life plastic technology which turns ordinary plastic at the end of its service-life into biodegradable materials. It is then no longer a plastic and can be bioassimilated in the open environment in the same way as a leaf. The technology is branded d2w® and appears as a droplet logo on many thousands of tonnes of plastic packaging and other plastic products around the world. In some countries oxo-biodegradable plastic is mandatory.  For a video of d2w® plastic degrading see http://degradable.net/play-videos/4.

Symphony has developed the d2Detector®, a portable device which analyses plastics and detects counterfeit products.  Symphony's d2t tagging and tracer technology is also available for further security. See www.d2t.net

Symphony has a diverse and growing customer-base and has established itself as an international business with 74 distributors around the world. Products made with Symphony's plastic technologies are now available in 97countries and in many different product applications. Symphony is certified to ISO9001 and ISO14001.

Symphony is a member of The Oxo-biodegradable Plastics Association (www.biodeg.org) (OPA), the Society for the Chemical Industry (UK), and the Pacific Basin Environmental Council. Symphony actively participates in the Committee work of the British Standards Institute (BSI), the American Standards Organisation (ASTM), the European Standards Organisation (CEN), and the International Standards Organisation (ISO).

Further information on the Symphony Group can be found at www.symphonyenvironmental.com.

 

END

 

 

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