Accoya second quarter revenue grows

Aug 10, 2012. /Lesprom Network/. Accoya modified wood producer Accsys Technologies plc boosted its turnover by 35% to €4.5 million in the second quarter, compared to a year ago, as TTJ reported. The London-based company, which recently posted a €14.4 million after tax loss, also said it had a healthy cash balance of €23.1 million as at June 30. Accsys CEO Paul Clegg said the company had made excellent progress during the quarter, including the signing of an agreement with a Latin American board manufacturer for the production and sale of Tricoya modified panels. Other agreements include a licence deal with Solvay-Rhodia and, more recently, a heads-of-terms agreement with INEOS Industries for a joint venture to exploit the Tricoya technology for use within MDF, chipboard and wood-plastic composites.