22nd Feb 2007 10:01
Symphony Plastic Technologies PLC22 February 2007 Symphony Plastic Technologies plc Trading Update Symphony Plastic Technologies Plc ("Symphony" or the "Group"), the degradableplastics and waste-to-energy company, is announcing that sales for the firstquarter are expected to be below management expectations. The directors wereencouraged by the performance of the business in the fourth quarter of 2006,however the anticipated move into profitability since then has been delayed dueto the slippage of orders in some overseas markets and the directors taking amore cautious view on the timing of the recovery following the change in thestrategic direction of the group in 2006. The UK market in the past has been slow to accept change to oxo-degradabletechnology but there is rising interest in the concept of d2w(TM)additivetechnology and products. This increase in momentum is being created by a generaldesire to make changes to a low cost eco-friendly alternative without having tochange product type or supplier. Symphony is establishing good relationshipswith manufacturers and suppliers and has an increasing rapport with end users.Our current negotiations create a seamless inclusion of d2w(TM)additivetechnology within existing supply chains. Symphony's d2w(TM)additives are beingused in products that are found in some of the UK's largest grocery retailers.These products include carrier and produce bags. Considerable development workis ongoing in a diverse range of new products and applications. Legislation is continually changing and evolving on a local, state and nationallevel in which oxo-degradable technology is being seen as a viable costeffective environmental alternative to the management of plastic products andwaste. As a result of these changes and with the d2w(TM)brand technology being one ofthe world's most established and lowest cost environmental options we believethat there is a likelihood that other markets will be encouraged to make similarchanges rather than banning plastics entirely. For further information, please contact: Symphony Tel: 020 8207 5900 Michael Laurier, CEO Ian Bristow, FD Panmure Gordon & Co Tel: 020 7614 8385 Andrew Godber 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 d2w(TM)registered trademark, causes plastic to degrade,leaving only water, a minimal amount of carbon dioxide and trace amounts ofnon-toxic biomass over a short time period. The d2w(TM)product range includespro-degradent additives developed for an increasing variety of applications aswell as a range of finished flexible plastic products. Symphony has a diverse and growing customer base in the UK and has successfullyestablished itself as an international business after signing distributionagreements with companies in Argentina, Brazil, Canada & USA, Chile, Colombia,India, Mexico, New Zealand, Peru, Portugal, South Africa, the Caribbean, SaudiArabia, and Qatar. d2w(TM)products can already be found in more than 40countries. Symphony is now marketing and developing innovative waste-to-energy technologyprocessing plants and is exploring various opportunities where there is a demandto increase recycling of waste plastics, tyres and other waste streams by costeffective processes. 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.