Symphony Plastic Technologies PLC
1 August 2002
For Immediate Release Thursday 1st August 2002
SYMPHONY PLASTIC TECHNOLOGIES PLC
CONTRACT WITH SOMERFIELD AND KWIK SAVE
FOR DEGRADABLE CARRIER BAGS
Symphony Plastic Technologies Plc ('Symphony' or 'the Group'), through its
wholly owned subsidiary, Symphony Environmental, has won the contract to supply
Somerfield and Kwik Save with all of their retail carrier bags, switching supply
from their existing non-degradable bags to the recently re-branded d2w(TM)
totally degradable carrier bags (previously SPI-Tek(TM)). The contract with
Somerfield and Kwik Save has a minimum value of £4.35 million over a 12 to 15
month period from first delivery, which is expected to be made during the last
quarter of this year.
Somerfield and Kwik Save operate more than 1300 stores throughout the UK and
will commence the conversion to Symphony's d2w(TM) degradable bags in the last
quarter of the Group's current financial year.
Commenting on the contract with Somerfield and Kwik Save, Christopher Littmoden,
Chairman of Symphony, said:
'We are absolutely delighted to have signed up the Somerfield and Kwik Save
supermarket chains so soon after announcing our first such UK deal with
Co-operative Retail last month. These new contracts will more than double the
rate of Symphony's sales, with customer requirements now totalling in excess of
1 billion degradable retail carrier bags per annum in the UK alone. Symphony
remains convinced that d2w(TM) totally degradable products are a solution to the
problem of plastic pollution and the Group is well placed to benefit from the
growing stringency of European law on plastic waste disposal.'
For more information, please contact:
Michael Laurier Tel: 020 8207 5900
Chief Executive, Symphony
Bobby Morse/Louise Bolton Tel: 020 7466 5000
Buchanan Communications Mob: 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 d2w(TM) branded products are sold to a number of major supermarkets,
including: Co-operative Retail, Musgrave, in the Irish Republic and Northern
Ireland, Tesco, Safeway, and Poundstretcher. Users of the products include:
Fyffes Plc, The Soil Association, The Consortium for Purchasing, and over 50
Local Authorities amongst many others. The company exports its products to the
Republic of Ireland, the United Arab Emirates, and the Caribbean.
About Somerfield and Kwik Save
The Somerfield Group incorporates the Somerfield and Kwik Save supermarket
business units which together operate over 1,300 stores nationwide. Somerfield
is the UK's biggest neighbourhood supermarket offering easy to shop convenience
in its smaller high street stores with a strong emphasis on its fresh food
offer, modern ready meals and a quality range of wines. Kwik Save operates as a
value brand building on its heritage as the nation's number one discount
supermarket offering the biggest brands at lowest prices. Together they have
over 12 million customer visits every week and an annual turnover of £4.6
billion.
About d2w(TM) (formerly SPI-TEK(TM))
The technology, branded as d2w(TM), utilises a special additive (Symphony holds
a license to use EPI(R) TDPA(TM) patented additives) as a part of the production
process 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
also 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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