Business
Interim Results - Replacement
Interim Results - Replacement.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n Accsys Technologies PLC\n13 December 2006\n\n\n\n Accsys Technologies PLC\n\n 46 Berkeley Square, London, W1J 5AT, United Kingdom\n\n Telephone: +44 (20) 7598 4040 Facsimile: +44 (20) 7598 4050\n\n\nPlease find the revised announcement which includes the Consolidated Balance\nSheet and the Consolidated Cash Flow Statement which were omitted on the\noriginal release of the announcement this morning at 7:00 am under RNS number\n7644N.\n\n\nINTERIM RESULTS FOR THE SIX MONTHS TO 30 SEPTEMBER 2006\n\nACCSYS TECHNOLOGIES PLC ('Accsys' or 'the Company')\n\n\nHighlights\n\n\n • The world's first commercial AccoyaTM production plant being built by\n Accsys subsidiary Titan Wood is nearing completion in Arnhem, the\n Netherlands.\n\n • Commissioning of the plant began in November and the first production\n batches are expected within a few weeks.\n\n • Two thirds of planned 2007 production is already committed to early\n customers. Among the larger sales contracts are those with BSW Timber\n (www.bsw.co.uk), the UK's largest sawmilling company, and the Enno Roggemann\n Group (www.roggemann.de), the leading German timber trader.\n\n • Titan Wood, which has had expressions of interest more than covering the\n remainder of its planned volume, intends to allocate its remaining available\n capacity for premium customers, the development of new product applications\n and trials for prospective licensees.\n\n • BSW Timber is one of several companies holding options for the production\n of AccoyaTM in their domestic markets. Two other options have been granted\n which establish priority and or a degree of exclusivity. Discussions are\n currently underway with a number of interested parties, which are expected\n to lead to further agreements in 2007.\n\n • Results for the 6 month period show capital expenditure of €8.4 million\n and a pre tax loss of €3.7 million (2005: loss of €2.2 million) in line with\n business plans.\n\n • Following Accsys's share placement in November, substantial cash resources\n remain available to support the solid AccoyaTM wood business and to finance\n the further development of next generation products and technologies, in\n particular acetylated fibre products (such as MDF).\n\nCHAIRMAN'S STATEMENT\n\n\nIntroduction\n\n\n2006 has seen the group established as a public company, enjoying strong\ns...