Distribution Agreement-Qatar
Symphony Plastic Technologies PLC
04 April 2005
Symphony Plastic Technologies plc
Distribution Agreement - Qatar
Symphony Plastic Technologies Plc ('Symphony'), the degradable plastics company,
has entered into a five year exclusive distribution agreement with Al Haya Waste
Management & Projects Company, ('Al Haya') of Qatar.
The agreement allows Al Haya to market Symphony's d2w(R) degradable additive and
products exclusively into Qatar. Al Haya has forecast that they will purchase
not less than US$450,000 of additives and products within the first two years.
From the third year Al Haya anticipates purchasing US$300,000 of additives and
products increasing at the rate of 10% per year for each subsequent year.
This is Symphony's second distribution agreement in the Middle East and further
strengthens its existing marketing base in the region and further expands its
international network, which includes Brazil, Canada, Colombia, the Caribbean,
New Zealand, Saudi Arabia, South Africa and USA.
Al Haya is a Qatari Company, managed by Ali Saeed Al Marri, which is focused on
eco-friendly projects in Qatar. Al Haya's other project's are plastic recycling,
lubricating oil recycling and hazardous waste management.
Michael Laurier, Chief Executive, said:
'This is a further expansion of our Middle East distribution network and
strategically places the company's d2w(R) degradable technology into a
completely new market. Both Al Haya and Symphony are confident that the demand
for degradable plastics will develop rapidly in Qatar as a result of increasing
legislative and environmental pressures.'
Commenting on the agreement, Al Haya said:
'We are very pleased to be working with Symphony to market this environmentally
responsible product in Qatar and the initial response has been very encouraging.
Qatar has a serious problem with plastic pollution caused by discarded waste
such as carrier bags and other forms of packaging and we believe that the market
urgently needs this environmentally responsible degradable product.'
For further information:
Symphony Plastic Technologies plc
Michael Laurier, Chief Executive +44 (0) 20 8207 5900
Citigate Dewe Rogerson
Patrick Toyne Sewell / Ged Brumby +44 (0) 20 7638 9571
Further information on Symphony Plastic Technologies plc
Symphony develops and supplies environmentally responsible plastic packaging
products, which are distributed primarily to the retail, local authority and
health related sectors. The Group's main technology, d2w(R), allows 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 current d2w(R)
product range now includes additives, carrier bags, refuse and waste sacks,
mailing wrap, stretch film, aprons, and packaging films.
Symphony has a strong blue-chip customer base in the UK and has successfully
established itself as an international business after signing contracts with
companies in Brazil, Canada & USA, New Zealand, South Africa, the Caribbean,
Saudi Arabia, Colombia and the Middle East. Further information on Symphony can
be found at www.degradable.net.
Ends.
This information is provided by RNS
The company news service from the London Stock Exchange