30th Jan 2007 10:46
3DM Worldwide PLC30 January 2007 3DM Worldwide plc Powder Impression Moulding process to be used to produce parts for manufactureof "eco-friendly" vehicle 3DM Worldwide plc has developed, and is now exploiting, a patented plasticpolymer moulding process, known as Powder Impression Moulding 3DM Worldwide plc ("3DM"), holder of intellectual property rights to the PowderImpression Moulding ("PIM") process has granted 2k Manufacturing Ltd, a licenceto manufacture commercial vehicle parts utilising recycled plastics on the PIMprocess in the UK and Benelux countries. The consideration for the licence is€350,000, to be paid in instalments, with an ongoing royalty stream based on thevalue of parts produced. 2k Manufacturing Ltd., a privately-owned, commercial vehicle componentmanufacturing company, has been invited to become part of the "Zurban" (zeroemissions urban vehicle) project in The Netherlands, to produce a zero emissionslight commercial vehicle, based on a cradle-to-cradle manufacturing philosophy.The initial targeted volume for the project is 10,000 vehicles by 2010, withproduction of parts to commence in 2008. Omer Kutluoglu, a Director of 2k Manufacturing Ltd., comments: "The ability of the PIM process to convert waste plastic into commercial partscombined with the ability to encapsulate other materials makes it the idealprocess for this project. A key consideration was the ability to recycle theparts we produce as we look to minimise the environmental impact of the Zurban. "Looking to the future we can see an exciting opportunity and a significantmarket for components make from recycled plastics in the European commercialvehicle market, particularly as the carbon footprint of using recycled plasticsis significantly less than using virgin material." 3DM has also been informed that Highseas Technologies Ltd, a licence holder forthe PIM process, has received an initial order to develop and supply transomsfor specialist inflatable boats for Scandinavian military use. The Board of 3DM is pleased to announce the completion of a placing of 1,600,000new Ordinary Shares of 2.5p each ("Placing Shares") at 5.625p per share. Thefunds raised by the Company are to be utilised for additional working capital. These Placing Shares will, when issued and fully paid, rank pari passu in allrespects with the existing issued ordinary shares of the Company. Applicationhas been made for the Placing Shares to be admitted to trading on AIM andtrading in the Placing Shares is expected to commence on 2 February 2007. 30 January 2007 ENQUIRIES: 3DM Worldwide plc 02920 885858Niall Mackay, Chief Executive College Hill 020 7457 2020Gareth David This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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