Business
PRELIMINARY RESULTS
PRELIMINARY RESULTS.
About this update from Accsys Technologies Plc
[{"type":"text","content":"\n Accsys Technologies PLC\n28 June 2007\n\n\n\n28th June 2007 AiM: AXS\n\n\n Accsys Technologies PLC ('Accsys' or 'the Company')\n\n PRELIMINARY RESULTS\n FOR THE 12 MONTHS ENDED 31 MARCH 2007 (audited)\n\n\n\nHighlights\n\n• Successful construction, commissioning and start up of 30,000 cubic\n metre commercial AccoyaTM wood production plant in Arnhem\n\n• Demand for production capacity for current year and beyond, with\n trading agreements in place\n\n• Large order for AccoyaTM to be used to construct heavy-traffic road\n bridges, confirms a major new global market opportunity\n\n• Immediate plans to double capacity of the Arnhem facility to 60,000 m3\n by mid 2009\n\n• Strategic Partnership with Celanese Corporation, including 5.5% equity\n investment and twenty year long term supply agreement\n\n• Licence agency agreement signed with Skanfore S.A., for 500,000 cubic\n metres capacity giving €10 million upfront licence revenue\n\n• Expectations of additional licence options and agreements and\n confidence of profitability in current financial year\n\n• Investment in the business resulted in a loss of €22.6m (2006: €5.0m)\n after impairment charges of €12.4m\n\n• €27.5 million of liquid financial resources, no debt, before receipt\n of Skanfore payment\n\n• Willy Paterson-Brown, Executive Chairman, takes on the role of Chief\n Executive Officer as well; Edward Pratt to become 'Senior Advisor, Projects'\n\n• Agreement with Fortis, with plans to list the Company's shares on\n Eurolist by Euronext Amsterdam by end of 2007\n\n• Additional product development progress in wood fibre applications\n\n\nWilly Paterson-Brown, Chairman and CEO, said: 'This has been an excellent year\nfor Accsys with progress on many fronts and we have high expectations for 2007/\n8. Accsys has moved from a technology development company to a full scale\ncommercial operator with far reaching potential on a global basis. In AccoyaTM\nwood, we have a quality product, universally accepted as being of the highest\nstandards with multiple applications.'\n\nThe audited financial statements for the year ended 31st March 2007 follow.\n\n\nFor further information, please contact:\n\nAccsys Technologies PLC Willy Paterson-Brown, +44 (0) 20 8144 2510\nwww.accsysplc.com Chairman & Chief Executive\n\nCollins Stewart Europe Limited...