Accysys Technologies Signs Licence Agreement With Financiera Maderera

16th Mar 2018 13:09

LONDON (Alliance News) - Chemical technology company Accsys Technologies PLC said on Friday it has signed a Tricoya user licence agreement with MDF and chipboard manufacturer Financiera Maderera SA.

Under the agreement's terms, Financiera will be granted exclusive rights to manufacture wood-based panels using Tricoya wood elements from Spain and Portugal, along with non-exclusive rights in other territories.

The panels will be sold under the Tricoya brand and Financiera will pay a combination of royalty and licence fees to Accsys's subsidiary Tricoya Technologies Ltd with the first instalment payable immediately.

Initially acetylated material for Tricoya panel production will come from Acsys's Accoya plant in Arnhem, Netherlands, but then it will come from the first Tricoya plant in Hull, UK, which is expected to be operational in 2019.

"I am delighted to announce this agreement with FINSA. A partnership with FINSA, a well-established company with a reputation for innovation, is a great endorsement of our proprietary technologies and the Tricoya business proposition. Incremental panel production should ensure that the Tricoya plant is significantly loaded and able to generate positive Ebitda at an earlier point. We see this agreement as an important step towards establishing Tricoya as the world's leading high-performance sustainable wood-based panel, stimulating demand for further growth," said Chief Executive Officer Paul Clegg.

Shares in Accsys Technologies were up 1.5% at 76.20 pence on Friday.

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