Business
EU Licence Option Agreement
EU Licence Option Agreement.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n RNS Number : 6566P Accsys Technologies PLC 30 March 2009 \n \n\n\n\nAIM: AXS\n NYSE Euronext Amsterdam: AXS\n\nAccsys Technologies PLC\n\nAccsys announces Licence Option Agreement in Europe with Safwood\n\n\nAccsys Technologies PLC ('Accsys' or 'the Company') announces that its wholly owned subsidiary, Titan Wood Ltd., has signed a licence option agreement with Safwood S.p.A. ('Safwood'), in respect of rights to manufacture Accoya® wood in Italy, Switzerland and Austria for a nameplate capacity of 120,000 cubic metres per annum.\n\nThe terms of the agreement include Accsys receiving an initial non-refundable upfront payment of €120,000 in return for a twelve month option for the three European countries. The geographical territory and manufacturing volumes may be extended upon the exercise of the option. As with all previous Titan Wood licence option agreements, terms of the licence would include licence fee payments of €200 per cubic metre of nameplate capacity (€24 million in total) and €22 per cubic metre of production royalties for an initial twenty year period. \n\nThe Safwood group, based in Piacenza, Italy, specialises in wood products such as sawn timbers, panels, matchboard panels and laminated beams and panels. It plays a prime role among the sawn timber producers in Russia and trades its products mainly in the European market. It is forecast to have achieved sales in 2008 in the region of €100 million.\n\nWilly Paterson-Brown, Executive Chairman of Accsys commented, 'Safwood has an excellent reputation in the European timber industry and beyond, with well established distribution channels, and we are delighted to enter into this agreement. A tremendous synergy exists between our two companies and we are both extremely excited about the huge potential for Accoya® wood in Europe. Initially we will be shipping product to Safwood from our Arnhem production facility in the very near future and look forward to developing various new markets in partnership with them.'\n\nGiampaolo Par...