Symphony Plastic Technologies PLC
5 July 2002
For Immediate Release Friday 5th July 2002
SYMPHONY PLASTIC TECHNOLOGIES PLC
CONTRACT WITH CO-OPERATIVE RETAIL FOR
SPI-Tek DEGRADABLE CARRIER BAGS
Symphony Plastic Technologies Plc ('Symphony') has won its first major
supermarket customer for carrier bags in the UK retail grocery market through
its wholly owned subsidiary, Symphony Environmental. Co-operative Retail ('Co-op
') has chosen Symphony's SPI-Tek totally degradable carrier bags as it fits with
the supermarket's ethical profile. The value of the contract for Symphony in the
first 12 months is approximately £2m, representing 33% of Co-op's carrier bag
business.
Commenting on the significant order Christopher Littmoden, Chairman of Symphony,
said:
'The Co-op is a good-fit between the concept of degradability and a retailer who
genuinely cares for the environment. This commitment is set to grow within the
Co-op, and is also on the agenda of many major retailers. This is an important
first step in introducing the Symphony solution to the considerable problem of
plastic waste in the UK.'
For more information, please contact:
Michael Laurier Tel: 020 8207 5900
Chief Executive, Symphony
Bobby Morse/Louise Bolton Tel: 020 7466 5000
Buchanan Communications Or 07802 875 227
Notes to Editors:
About Symphony
Symphony is pioneering the application of price competitive degradable plastic
technologies to various organisations, in various geographic locations.
Symphony's SPI-Tek branded products are sold to a number of supermarkets,
including: Musgrave, the retail franchise division of Musgrave Group which
services over 500 independently owned supermarkets and convenience stores
throughout the Irish Republic and Northern Ireland, Tesco, Safeway, and
Poundstretcher. Regular users of the products include: Fyffes Plc, The
Consortium for Purchasing, Erewash Council, Watford Council, Basildon Council,
Castle Point Council, and Bedfordshire Council amongst many others. The company
exports its products to the Republic of Ireland, the United Arab Emirates, and
the Caribbean.
About SPI-TEK
The technology, branded as SPI-Tek utilises TDPA patented additives (Symphony
holds a license to use TDPA patented additives for 15 years) to allow
time-controlled total degradation of the plastic material leaving only water, a
minimal amount of carbon dioxide and biomass.
The technology has been independently tested and proven to be environmentally
safe, leaving no toxic substances at the end of the degradation process, and has
been tested as safe for direct food contact under EU standards.
This information is provided by RNS
The company news service from the London Stock Exchange
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