News

NOTICE ABOUT COVID-19

by Laura Ladd on 3 April 2020

People throughout the world are encountering difficult challenges and unprecedented disruption because of the COVID-19 pandemic.

People throughout the world are encountering difficult challenges and unprecedented disruption because of the COVID-19 pandemic.

We want to reassure you that the health, safety and wellbeing of you, our colleagues, business associates, friends and families are our top priority at this time.

Measures and working practices are in place to protect our people and associates, and we remain in operation, able to offer our products and support our customers, suppliers and partners.

The pandemic has affected each person and business differently, so please check with your local supplier for product availability.  If you need or would like assistance with this, please contact us.

On March 27th 2020, Accsys also released a trading update RNS in light of COVID-19.

In it, Rob Harris, CEO, said:

“In these incredibly challenging times, we continue to be focussed on ensuring the continued health, safety and well-being of our people. We are all pulling together to manage these extraordinary circumstances in the world and our business.

“The impact of COVID-19 remains uncertain and as a result we are working with our key stakeholders; employees, customers and suppliers, to ensure we minimise the effect of the disruption. Having completed our capital raise in December 2019, our liquidity is strong and the mitigating actions we are putting in place or continue to plan for are focussed on ensuring we maintain our liquidity, cash resources and future growth optionality.

“We will continue to review our future costs and capital allocations in this light, and provide certainty where practicable for our dedicated teams to manage.”

Read the full announcement

Best wishes, and we hope you are staying safe and well,

The Accsys team.

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Laura LaddNOTICE ABOUT COVID-19

AGREEMENT WITH PCG TO EVALUATE A TRICOYA® PLANT IN MALAYSIA

by Laura Ladd on 9 January 2019

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.”

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Laura LaddAGREEMENT WITH PCG TO EVALUATE A TRICOYA® PLANT IN MALAYSIA

TRICOYA® LICENCE AGREEMENT COMPLETED WITH FINSA

by Laura Ladd on 23 March 2018

Accsys announces it has signed a Tricoya® user licence agreement with one of Europe’s longest established MDF and chipboard manufacturers, Financiera Maderera S.A. (FINSA). FINSA (www.finsa.com) has been a pioneer in the field of sustainable and renewable wood-based solutions since its foundation in 1931.

Under the agreement, FINSA is granted exclusive rights for manufacturing high-performance wood-based panels from Tricoya® wood elements in Spain and Portugal, with non-exclusive distribution rights in other territories. FINSA will sell the panels under the Tricoya® brand and pay a combination of royalty and licence fees to Accsys’ subsidiary Tricoya Technologies Ltd (TTL), with the first instalment of the licence fee payable immediately.

The supply of acetylated material for the production of Tricoya® panels by FINSA will initially be met from Accsys’ Accoya® plant in Arnhem, NL, and then in the form of Tricoya® chips from the world’s first Tricoya® plant in Hull, UK which is under construction and expected to be operational in 2019.

This is a significant development for Accsys, as the anticipated future demand for Tricoya® chips indicated by FINSA together with the existing offtake agreement with Medite Europe DAC, is expected to result in the Hull plant being significantly loaded and as a consequence cash generative at an earlier point.

Commenting, Paul Clegg, CEO of Accsys, said:
I am delighted to announce this agreement with FINSA. A partnership with FINSA, a well-established company with a reputation for innovation, is a great endorsement of our proprietary technologies and the Tricoya® business proposition. Incremental panel production should ensure that the Tricoya® plant is significantly loaded and able to generate positive EBITDA at an earlier point. We see this agreement as an important step towards establishing Tricoya® as the world’s leading high-performance sustainable wood-based panel, stimulating demand for further growth.”

Gonzalo Frey Pazos, Business Director, FINSA and Javier Portela López, R&D and Quality Director, FINSA said:
FINSA is pleased to announce its cooperation agreement with Accsys. As a pioneer in the manufacture of all types of wood-based solutions, we at FINSA are sure that this agreement will herald new exterior applications which will bring value to both our customers and to stakeholders. The aim of the agreement is to generate real value thanks to the combination of FINSA’s manufacturing experience and Accsys’ expertise in the acetylation of wood. We shall now get to work on offering these solutions to the marketplace.

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Laura LaddTRICOYA® LICENCE AGREEMENT COMPLETED WITH FINSA