Accsys, the fast growing and sustainable chemical technology group, recently confirmed that it was exploring opportunities for new manufacturing plants outside Europe. Accsys is pleased to announce that its subsidiary, Tricoya Technologies Limited (“TTL”), has now entered into an agreement with PETRONAS Chemicals Group Berhad (“PCG”) to evaluate the feasibility of jointly funding, designing, building and operating an integrated acetic anhydride and Tricoya^® wood elements production plant (the “Plant”) in Malaysia.

It is envisaged that Tricoya^®wood elements produced at the Plant would use acetic acid from PCG’s existing joint venture in Malaysia.  The Plant would then supply the wood panel industry within South East Asia, under licence, as the key raw material for the formation of Tricoya^® panels for the use in the construction industry in the region.

The evaluation is expected to include preliminary engineering studies, regional customer and market feasibility assessments and financing arrangements.  Under the terms of the agreement, the parties have agreed to carry out the evaluation exclusively for a period of at least 18 months

Paul Clegg, Chief Executive of Accsys, said:

“This is an exciting and important step for Accsys, with the potential to open up new markets for Tricoya in Asia. We are really pleased to be exploring the expansion of our global manufacturing footprint with PCG, a major international chemical company, with such a strong Asian presence.”