Completion of finance for Purchase of Land

RNS Number : 5552W

Accsys Technologies PLC

02 August 2018

 

2 August 2018                                                                                                            AIM: AXS

Euronext Amsterdam: AXS

ACCSYS TECHNOLOGIES PLC

("Accsys" or "the Company")
 

Completion of Purchase of Arnhem Land and Buildings

Accsys, the fast growing and sustainable chemical technology group, today announces that is has completed the purchase of the land and buildings associated with its Accoya^® plant and logistics centre in Arnhem, the Netherlands.

The purchase, from its landlord Bruil for €23m, was announced on 1 May 2018, subject to finance. It has been financed with a partially amortising five year package comprising €19m from ABN AMRO and a commercial loan of €4m.

The financing terms will result in a lower overall income statement charge over the next 20 years.  The acquisition also reflects Accsys's continued successful efforts to improve its overall financing arrangements.

Ownership of the land is expected to provide enhanced strategic options, operational security and greater flexibility in respect of the use of the land.

ACCSYS TECHNOLOGIES PLC 
("Accsys" of "de Vennootschap")

Voltooiing van de aankoop van de grond en gebouwen in Arnhem

Accsys, de snelgroeiende chemische technologiegroep, maakt vandaag bekend dat de aankoop van de grond en gebouwen ten behoeve van de productie van Accoya^® en het logistieke centrum in Arnhem succesvol is afgerond.

Op 1 mei 2018 werd de aankoop ter waarde van € 23 miljoen, onder voorbehoud van financiering, reeds aangekondigd. De verwerving is gefinancierd middels een lening ter grootte van € 19 miljoen van ABNAMRO die gedeeltelijk in vijf jaar zal worden afgelost en een commerciële lening ter grootte van € 4 miljoen.

De kosten van de aangetrokken financiering zullen resulteren in lagere lasten gedurende de 20-jarige looptijd van de financiering. Verder demonstreert deze transactie Accsys' continue succesvolle inzet om haar financieringsarrangementen te verbeteren.

Eigendom van de grond zal naar verwachting de strategische opties, bedrijfszekerheid en de flexibiliteit ten aanzien van het gebruik van de grond, verbeteren.

Ends

For further information, please contact:

Accsys Technologies PLC	Paul Clegg, CEO Will Rudge, FD Hans Pauli, Executive Director, Corporate Development	via MHP Communications
Numis Securities	Nominated Adviser: Jamie Lillywhite Corporate Broking:  Christopher Wilkinson Ben Stoop	[phone]
MHP Communications	Tim Rowntree Kelsey Traynor	[phone]
Off the Grid (The Netherlands)	Frank Neervoort Yvonne Derkse	[phone] [phone]

Notes to editors:

Accsys Technologies PLC (www.accsysplc.com) is a chemical technology group whose primary focus is on the production of Accoya^® wood and Tricoya^® wood elements, technology licensing via its subsidiary, Titan Wood Limited, which has manufacturing operations in Arnhem, the Netherlands (through its subsidiary Titan Wood B.V.), a European office in London, United Kingdom, an American office in Dallas, Texas (via its subsidiary Titan Wood, Inc.) and technology licensing associated with the acetylation of wood elements via its subsidiary Tricoya Technologies Limited.  Any references in this announcement to agreements with Accsys shall mean agreements with either Accsys or its subsidiary entities unless otherwise specified.  Accsys Technologies PLC is listed on the London Stock Exchange AIM market and on Euronext Amsterdam, under the symbols 'AXS'. Accsys' operations comprise four principal business units: (i) Accoya^® wood production; (ii) building and operating of Tricoya^® wood chip acetylation plant in Hull; (iii) technology development, focused on a programme of continuous development of and improvements to the process engineering and operating protocols for the acetylation of solid wood and the development of technology for the acetylation of wood elements; and (iv) the licensing of technology for the production of Accoya^® wood and Tricoya^® wood elements across the globe.

Accoya^® Wood (www.accoya.com) is produced using Accsys' proprietary patented acetylation technology that effectively converts sustainably grown softwoods and non-durable hardwoods into what is best described as a "high technology wood". Distinguished by its durability, dimensional stability and, perhaps most importantly of all, its reliability (in terms of consistency of both supply and quality), Accoya^® wood is particularly suited to exterior applications where performance and appearance are valued. Moreover, the Accoya^® wood production process does not compromise the wood's strength or machinability. The combination of dimensional stability, durability and retained strength means that Accoya^® wood offers a wealth of new opportunities to architects, designers and specifiers. These benefits result in lower maintenance and total cost of ownership while using a highly sustainable and environmentally responsible building material. For a full archive of Accoya^® news, visit www.accoya.com/news.

Tricoya^® Wood Elements (www.tricoya.com) are produced using Accsys' proprietary technology for the acetylation of wood chips and particles for use in the fabrication of panel products such as medium density fibreboard and particle-board. These products demonstrate enhanced durability and dimensional stability which allow them to be used in a variety of applications that were once limited to solid wood or man-made products. Exploitation of Accsys' proprietary technology relating to Tricoya^® Wood Elements is carried out through Tricoya Technologies Limited.  Tricoya^® Wood Elements are lauded as the first major innovation in the wood composites industry in more than 30 years.

Wood Acetylation is a process which increases the amount of naturally occurring 'acetyl' molecules in wood, thereby changing its physical properties. When carried out to a sufficient level throughout the wood, this process protects wood from rot by making it "inedible" to most micro-organisms and fungi, without - unlike conventional treatments - making it toxic. It also greatly reduces the wood's tendency to swell and shrink, making it less prone to cracking and ensuring that, when painted, it requires dramatically reduced maintenance.

Accsys Technologies is the trading name of Titan Wood Limited. Accoya^®, Tricoya^® and the Trimarque Device are registered trademarks owned by Titan Wood Limited ("TWL"), a wholly owned subsidiary of Accsys Technologies PLC, and may not be used or reproduced without written permission from TWL, or in the case of the Tricoya^® registered trademark, from Tricoya Technologies Limited, a subsidiary of TWL with exclusive rights to exploit the Tricoya^® brand.

 

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