Symphony Plastic Technologies PLC
29 August 2006
Symphony Plastic Technologies plc
Board Restructure
Symphony Plastic Technologies Plc ('Symphony' or the 'Company'), the degradable
plastics company, is pleased to announce a significant strengthening of its
Board with the appointment of Matthew Turner as Managing Director with immediate
effect.
Matthew Turner, 47, has held a number of senior roles and in particular in 2005
- 2006, Global Head for Water and Waste with the Fortis Bank - Merchant Bank
Division, Brussels. He was also Global Chief Executive of Bord Na Mona
Environmental, Ireland in 2003 and 2004; Corporate Finance Director for Ernst &
Young, Brussels in 2001 - 2003; Director of Water Nuon B.V. Amstersdam in 2000 -
2001 and Project Finance Manager of TXU Europe in 1998 - 2000. Matthew remains
Managing Director, CFA Services in Antwerp, a management company focusing on
provision of investment, corporate finance advisory, strategic and restructuring
services.
Matthew will report directly to Michael Laurier, Chief Executive, and will be
responsible for implementing the Company's strategy of strengthening the UK
business and network of distributors and focusing on sales of d2w(R)
pro-degradent additive.
As a result of this restructuring, Allan Blacher has left his position as Chief
Operating Officer of the Company and leaves the Company with immediate effect.
The Board of Symphony wishes him well in his future activities.
Nirj Deva, Chairman of Symphony, said:
'We are delighted to have appointed Matthew Turner as Managing Director of
Symphony. Matthew has considerable skills and experience operating in an
environmental technology sector and brings extensive commercial and leadership
skills to the Group.
'The appointment of Matthew has strengthened our already solid management team
and I am confident that progress will continue towards achieving the commercial
realisation of the Company's full potential.'
For further information, please contact:
Symphony Tel: 020 8207 5900
Michael Laurier, CEO
Ian Bristow, FD
Panmure Gordon & Co Tel: 020 7614 8385
Andrew Godber
Citigate Dewe Rogerson Tel: 020 7638 9571
Freida Moore
Ged Brumby
Further information on Symphony Plastic Technologies plc
Symphony develops and supplies environmentally responsible pro-degradent
additives as well as plastic packaging products. The Group's main technology,
marketed under the d2wTM registered droplet trademark, causes plastic to
degrade, leaving only water, a minimal amount of carbon dioxide and trace
amounts of non-toxic biomass over a short time period. The d2wTM product range
includes pro-degradent additives developed for an increasing variety of
applications as well as a range of finished flexible plastic products.
Symphony has a diverse customer base in the UK and has successfully established
itself as an international business after signing distribution agreements with
companies in Brazil, Canada & USA, India, New Zealand, South Africa, the
Caribbean, Saudi Arabia, Colombia and Qatar. d2wTM products can already be
found in more than 40 countries.
Further information on Symphony can be found at www.symphonyplastics.com and
www.degradable.net.
This information is provided by RNS
The company news service from the London Stock Exchange
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