Aug 13, 2008. /Lesprom.com/. Accsys Technologies PLC announces that Titan Wood Ltd, its 100% owned subsidiary, has signed a license option agreement with Diamond Wood China Ltd, in respect of the rights to manufacture Accoya® wood in the People's Republic of China for an additional nameplate Accoya® wood production capacity of 250 thousand cubic metres. Diamond Wood previously signed a License Agreement for 500 thousand cubic metres in November 2007. The terms of the agreement include the rights for Diamond Wood to expand their production volumes to 750 thousand cubic metres, an increase of 50%, and thereby extend their exclusivity in China until 2018. Financial terms mirror those of the original agreements between the two companies as far as license fees and royalties are concerned and involve an immediate payment of Euro250,000. Greg Lee, CEO of Diamond Wood, said, "Our market analysis and customer feedback shows that there is considerable potential for Accoya® wood in China and we have had our sights set on higher capacity volumes and extending exclusivity for some time now. We are therefore delighted to have signed this further agreement and to have secured these terms." Finlay Morrison, CEO of Titan Wood, added, "This is a significant step forward for Accsys in this region as this agreement gives Diamond Wood the opportunity to further consolidate their strong early adopter advantage."