Business
Licence Agreement
Licence Agreement.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n Accsys Technologies PLC\n28 September 2006\n\n\n28th September 2006 AIM: AXS\n\n\n Accsys to develop marine business for AccoyaTM wood\n following agreement with SeaQuest\n\n\nAccsys Technologies PLC ('Accsys' or 'the Company') announces that its 100%\nowned subsidiary, Titan Wood Ltd., has entered into an option agreement with\nSeaQuest Technologies Ltd., of Hong Kong ('SeaQuest'), for SeaQuest to buy a\nlicence to produce AccoyaTM wood, the new ultra-high performance wood. Made\nfrom sustainably grown softwoods, AccoyaTM wood offers key performance\nattributes that are equivalent to or better than the best tropical hardwoods,\nsuperior to many artificial material alternatives and is completely non-toxic.\n\nSeaQuest will look to partner with a wood industry operator to develop the\npotential for AccoyaTM wood, with a specific interest in the marine sector.\nUnder the terms of the agreement, SeaQuest will make an up-front payment and has\na twelve month period in which to exercise its option to build a plant which\nwill have an initial capacity of approximately 45,000 cubic metres of AccoyaTM\nacetylated wood per year in exchange for additional up-front licence payments\nand on-going royalties based upon a combination of nameplate capacity and actual\nproduction.\n\nSeaQuest (www.sqtechnologies.com) is the sister company to SeaQuest Marine\nProject Management Ltd., a company specializing in shipbuilding, construction,\ndesign and repair. SeaQuest Technologies specializes in investing in innovative\ntechnologies and environmentally friendly products and processes that meet\nexacting quality standards.\n\nThe agreement between Titan Wood (www.titanwood.com) and SeaQuest is the third\nof its kind to be announced by Accsys and the Company expects to make additional\nannouncements later this year. Accsys is currently on target for start-up and\nshipping product from its Arnhem plant in the fourth quarter of 2006.\n\n'This is an important development for us as we are continually finding a wide\nvariety of uses and demand for AccoyaTM wood beyond our original expectations.\nWe will work very closely with SeaQuest to find the right operational partner\nand to explore the full potential of their interest in marine applications for\nAccoyaTM wood', said Willy Paterson-Brown, Executive Chairman of Accsys\n(www.accsysplc.com).\n\nSebast...