Accsys Technologies has announced that it plans to increase production of Accoya® wood by 50% in order to meet increasing trade and consumer demand for the high technology environmentally-friendly product.
Reflecting an increased awareness of truly sustainable construction products, Accsys Technologies has experienced such high demand for Accoya® wood that revenue from sales of the timber during the last quarter of 2010 jumped by 67% in comparison to the same quarter in the previous year. Since December 2010, Accsys Technologies has also signed three new distribution agreements in Australia, Chile and Belgium / Luxembourg that will boost the Accoya® presence around the globe.
Accoya® wood, created from sustainably sourced softwood, matches or exceeds the beauty and quality of the very best tropical hardwoods after undergoing a non-toxic modification process. With orders for Accoya® set to continue rising, Accsys Technologies has announced that it has raised gross proceeds of €30 million through an issue of new ordinary shares. These proceeds will be used to expand its production plant at Arnhem in The Netherlands by 50% and meet short-term working capital requirements and on-going Accsys Technologies operating costs.
Paul Clegg , CEO of Accsys Technologies says, “The expansion of our Arnhem production facility will allow us to keep pace with growing demand for Accoya® from around the world and an expectation of orders of significantly larger volumes than seen in the past.” Mr Clegg continued, “This growing demand reflects the recent signing of new distribution agreements, which brings us to a total of 24 distribution, supply or agency agreements.”
Further cementing their reputation as leaders in the field of sustainable modified wood, Accsys Technologies has also announced that development of the world’s first Tricoya® panel with Medite Europe Ltd continues. It is expected that a decision about the revolutionary new panel product will be made soon. Unveiled at Ecobuild 2010, the Medite Tricoya® panel has been hailed as one of the first true innovations in the wood composites industry in more than 30 years, marking the beginning of the next generation of wood-based panel products for outdoor use.
Further information about Accsys Technologies and Accoya® can be found at www.accsysplc.com and www.accoya.com.
