Business
Accsys Technologies Expands C
Accsys Technologies Expands C.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n RNS Number : 1064B Accsys Technologies PLC 12 August 2008 \n \n\n\n\n12th August 2008 AIM: AXS\n NYSE Euronext Amsterdam: AXS\n\n\nAccsys expands capacity in China as Diamond Wood extends its exclusivity with a license option for an additional 250,000m3\n\nAccsys Technologies PLC ('Accsys' or 'the Company') announces that Titan Wood Limited ('Titan Wood'), its 100% owned subsidiary, has signed a license option agreement with Diamond Wood China Limited ('Diamond Wood'), in respect of the rights to manufacture Accoya® wood in the People's Republic of China for an additional nameplate Accoya® wood production capacity of 250,000 cubic metres. Diamond Wood previously signed a License Agreement for 500,000m3 in November 2007.\n\nThe terms of the agreement include the rights for Diamond Wood to expand their production volumes to 750,000m3, an increase of 50%, and thereby extend their exclusivity in China until 2018. Financial terms mirror those of the original agreements between the two companies as far as license fees and royalties are concerned and involve an immediate payment of 250,000 Euros.\n\nGreg Lee, CEO of Diamond Wood, said, 'Our market analysis and customer feedback shows that there is considerable potential for Acco...