Business
ACCOYA? LICENCE AGREEMENT WITH SOLVAY FORMALLY APP
ACCOYA? LICENCE AGREEMENT WITH SOLVAY FORMALLY APP.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 1994W Accsys Technologies PLC 23 December 2013 \n \n\nAIM: AXS\nNYSE Euronext Amsterdam: AXS\n23 December 2013\nACCSYS TECHNOLOGIES PLC\n('Accsys' or the 'Company')\nACCOYA®LICENCE AGREEMENT WITH SOLVAY FORMALLY APPROVED\nSolvay exploring possibility of constructing plant on Accsys' land in Arnhem; two parties discussing future co-operation, including potential of co-ordinated operational and maintenance services \nAccsys, the environmental science and technology company whose primary focus is on the production and technology licensing of Accoya® wood and Tricoya® wood elements, today announces that its Accoya® licence agreement ('the licence agreement') with Belgian chemical group Solvay is now approved by both parties and is fully effective, resulting in a new level of cooperation between the two companies. \nThe licence agreement grants Solvay exclusive rights for a minimum of 15 year period, renewable at agreed terms, to produce and to sell Accoya® within the Council of Europe from this initial plant. The licenced territory includes 47 states in the Council of Europe, but excluding Belgium, Ireland, Luxembourg, the Netherlands and the United Kingdom which are reserved to Accsys. The licence agreement also grants Solvay the option to build additional Accoya® production plants in Europe, with the first plant (the 'plant') having a total capacity of c. 63,000 m3 of finished Accoya® output, expected to be operational in the course of 2016.\nIn return, Accsys will receive a series of licence payments, which have already commenced and will be made during the phased construction of the plant, and with royalty payments per volume of Accoya® produced thereafter. \nThe two companies have also signed an amendment to the licence agreement which now includes the possibility of Solvay constructing the plant in Arnhem on land Accsys currently owns, adjacent to the Company's existing manufacturing facility and in a phased manner. Solvay is now reviewing the two options for the optimal plant location, being either Arnhem, the Netherlands or Freiburg, Germany. \nThe decision on the plant and its location will be made by Solvay in the next few months.\nIn addition the two companies have agreed to examine the best ways to provide coordinated operational and maintenance services to both plants, and ...