6th Dec 2007 08:29
Environmental Recycling Tech. PLC06 December 2007 Environmental Recycling Technologies plc (the "Company" or "ERT") (formerly 3DM Worldwide plc) (AiM:ENRT) Update on flat board development The Company is pleased to announce the grant of a flat board production licence(arising from an existing development licence) to Environmental PolymerTechnologies Limited ("EPT") and its subsidiary operations at Bedwas nearCaerphilly in South Wales. In particular this licence facilitates theproduction in South Wales of a new board developed by EPT for building sitehoardings and construction purposes containing a high proportion of recycledrubber material and clinical waste. Under the terms of the agreement, theCompany will receive a royalty on the production of the board. Separately the company is pleased to announce that it has granted a productionlicence to 2K Manufacturing Limited ("2K") for the manufacture of eco board.This is the recycled plastic board developed with partners, including Bovis LendLease, which has won four environmental awards to date including most recentlythe Building Magazine's Sustainability 2007 Award for Innovative Technology. 2Kis the preferred manufacturer for the board and has established strong linkswith distributors and end users in the construction industry. 2K has anaggressive plan for several production plants in the United Kingdom and mainlandEurope. The licence deal is worth £2 million in licence fees and minimumroyalties (over a period of five years). Production is expected to commence inlate 2008. In consideration of these developments, the Company has reached an amicableagreement with Express Recycling for the termination of its agreement for alicence to manufacture. Niall MacKay, the Chief Executive Officer of the Company, said: "It is an exciting development that we now have not one but two quite differentrecycled boards developed using the PIM Process. The market for sheet materialin the construction industry is substantial and there is potential for otherproducts manufactured using PIM in the range. We are confident that our partnersat 2K Manufacturing and EPT will be able to take these products successfully tomarket." ---ENDS--- For further information: Environmental Recycling Technologies Plc Niall Mackay (CEO) 01993 779 468 Evolution Securities Fergus Marcroft 0207 071 4300 GTH Media Relations Jade Mamarbachi & Toby Hall 0207 153 8035 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ENRT.L