Accsys has signed a Tricoya® user licence agreement with one of Europe’s longest established MDF and chipboard manufacturers, Financiera Maderera S.A. (FINSA).

Wooden Panels

Accsys signed user license agreement with FINSA

Accsys has signed a Tricoya® user licence agreement with one of Europe’s longest established MDF and chipboard manufacturers, Financiera Maderera S.A. (FINSA). Under the agreement, FINSA is granted exclusive rights for manufacturing high-performance wood-based panels from Tricoya® wood elements in Spain and Portugal, with non-exclusive distribution rights in other territories. FINSA will sell the panels under the Tricoya® brand and pay a combination of royalty and licence fees to Accsys’ subsidiary Tricoya Technologies Ltd (TTL), with the first instalment of the licence fee payable immediately.

The supply of acetylated material for the production of Tricoya® panels by FINSA will initially be met from Accsys’ Accoya® plant in Arnhem, NL, and then in the form of Tricoya® chips from the world’s first Tricoya® plant in Hull, UK which is under construction and expected to be operational in 2019.

This is a significant development for Accsys, as the anticipated future demand for Tricoya® chips indicated by FINSA together with the existing offtake agreement with Medite Europe DAC, is expected to result in the Hull plant being significantly loaded and as a consequence cash generative at an earlier point.

FINSA has been a pioneer in the field of sustainable and renewable wood-based solutions since its foundation in 1931.