12th Sep 2012 07:00
12 September 2012
ENVIRONMENTAL RECYCLING TECHNOLOGIES PLC
(AIM: ENRT)
AGM Statement
Environmental Recycling Technologies plc ("ERT" or "the Company") (AIM: ENRT), which has developed and is exploiting the patented rights to the Powder Impression Moulding ("PIM") process capable of converting mixed waste plastics into commercially viable products, will be holding its Annual General Meeting today.
Ken Brooks, Chairman, will present the following update to the meeting:
"The year to date has been a period of good progress for ERT.
We have strengthened our executive management team with the appointment of Lee Clayton as Chief Operating Officer. This appointment enables ERT to focus greater resource on new technical and commercial opportunities, the early success of which has already been evidenced by significant recent licensing agreements in the US with Brownwater Plastics and NBF Plastics LLC.
Additionally as our commercialisation accelerates we would expect to appoint a full time Financial Director and our present Finance Director David Shepley-Cuthbert will move to a Non Executive Director role.
2K Manufacturing continues to make significant improvements to productivity at its flagship PIM operation in Luton, producing the award winning "Eco sheet" plywood substitute from mixed waste plastics. Contour Showers' "Eco-dec" continues to be well received by the market.
We are greatly encouraged by environmental and recycling initiatives which are gaining traction internationally, in particular the funding which is being made available by local and national governments. Earlier this year the UK government announced, through its UK Green Investments team, £80M of initial funding aimed specifically at small scale waste and recycling infrastructure projects.
We are encouraged by our recent progress and are in discussions with a number of potential new licensees. We plan to develop a more aggressive marketing strategy to make the PIM process a more widely acknowledged plastics manufacturing process, particularly in the light of the increasingly complex issues surrounding recycling plastics and resource efficiency going forward, from which ERT can benefit."
Enquiries:
Environmental Recycling Technologies Plc | www.ertplc.com |
Roger Baynham (Managing Director) | T: 0845 071 1394 |
Ken Brooks (Executive Chairman) | |
W H Ireland Limited | www.wh-ireland.co.uk |
John Wakefield / Marc Davies | T: 0117 945 3470 |
Notes:
Environmental Recycling Technologies plc (ERT) is a leading developer of innovative technologies specifically focusing on plastic waste recycling. The company holds the worldwide intellectual property rights to the Powder Impression Moulding (PIM) Process.
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