29th Aug 2006 08:59
Symphony Plastic Technologies PLC29 August 2006 Symphony Plastic Technologies plc Board Restructure Symphony Plastic Technologies Plc ("Symphony" or the "Company"), the degradableplastics company, is pleased to announce a significant strengthening of itsBoard with the appointment of Matthew Turner as Managing Director with immediateeffect. Matthew Turner, 47, has held a number of senior roles and in particular in 2005- 2006, Global Head for Water and Waste with the Fortis Bank - Merchant BankDivision, Brussels. He was also Global Chief Executive of Bord Na MonaEnvironmental, Ireland in 2003 and 2004; Corporate Finance Director for Ernst &Young, Brussels in 2001 - 2003; Director of Water Nuon B.V. Amstersdam in 2000 -2001 and Project Finance Manager of TXU Europe in 1998 - 2000. Matthew remainsManaging Director, CFA Services in Antwerp, a management company focusing onprovision of investment, corporate finance advisory, strategic and restructuringservices. Matthew will report directly to Michael Laurier, Chief Executive, and will beresponsible for implementing the Company's strategy of strengthening the UKbusiness and network of distributors and focusing on sales of d2w(R)pro-degradent additive. As a result of this restructuring, Allan Blacher has left his position as ChiefOperating Officer of the Company and leaves the Company with immediate effect.The Board of Symphony wishes him well in his future activities. Nirj Deva, Chairman of Symphony, said: "We are delighted to have appointed Matthew Turner as Managing Director ofSymphony. Matthew has considerable skills and experience operating in anenvironmental technology sector and brings extensive commercial and leadershipskills to the Group. "The appointment of Matthew has strengthened our already solid management teamand I am confident that progress will continue towards achieving the commercialrealisation of the Company's full potential." For further information, please contact: Symphony Tel: 020 8207 5900Michael Laurier, CEOIan Bristow, FD Panmure Gordon & Co Tel: 020 7614 8385Andrew Godber Citigate Dewe Rogerson Tel: 020 7638 9571Freida MooreGed Brumby Further information on Symphony Plastic Technologies plc Symphony develops and supplies environmentally responsible pro-degradentadditives as well as plastic packaging products. The Group's main technology,marketed under the d2wTM registered droplet trademark, causes plastic todegrade, leaving only water, a minimal amount of carbon dioxide and traceamounts of non-toxic biomass over a short time period. The d2wTM product rangeincludes pro-degradent additives developed for an increasing variety ofapplications as well as a range of finished flexible plastic products. Symphony has a diverse customer base in the UK and has successfully establisheditself as an international business after signing distribution agreements withcompanies in Brazil, Canada & USA, India, New Zealand, South Africa, theCaribbean, Saudi Arabia, Colombia and Qatar. d2wTM products can already befound in more than 40 countries. Further information on Symphony can be found at www.symphonyplastics.com andwww.degradable.net. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Symphony Env.