Strategic Update
Symphony Plastic Technologies PLC
15 June 2006
Symphony Plastic Technologies plc
Sales Progress
Symphony Plastic Technologies Plc ('Symphony'), the degradable plastics company,
would like to update the market on the progress of its new sales strategy which
was announced in September 2005 and further reported on at the Preliminary
Results on 27th April 2006. This new corporate strategy includes the
strengthening of the international network of distributors and focusing on sales
of d2w(R) pro-degradent additive rather than on finished flexible plastic
products.
Sales activity by Symphony and its distributors, and interest in degradable
plastics, continues to build and there have been a number of noteworthy
successes with new applications in new market sectors. Business has been won
with new customers many of whom are household names in different parts of the
world. These sales gains do not individually justify corporate announcement but
their collective strategic importance is material and reaches beyond the value
of the actual sales involved.
In addition to the strategic benefits arising from association with these
prestigious new customers, the d2w(R) droplet trademark is becoming ever more
widely visible and accepted as the recognised international symbol for
degradability.
Some specific examples of this progress in sales are:
• In Brazil, through Symphony's exclusive distributor RES, the second
largest beverage company, Schincariol, has recently launched a major
advertising and promotional campaign following the adoption of d2w(R)
degradable technology to wrap all its bottles and cans.
• In the United Kingdom, the leading consumer magazine publisher, IPC
Media, are using d2w(R) degradable technology for all their newsstand bagging
which includes magazine titles such as Marie Claire and Homes & Gardens.
• In Hong Kong, through Symphony's agent, Supreme Development Company,
the leading bulk rice packer, Golden Resources - who account for over 60% of
the market - will be using d2w(R) degradable technology in all their rice
bags from July 2006.
• In the international hospitality industry both Royal Caribbean International
and Marriott Hotels are using products incorporating d2w(R) degradable
technology to minimise the impact of their activities on the environment.
• In England, some fruit given to children under the 'School Fruit and
Vegetable Scheme' is now being packed in d2w(R) totally degradable plastic
bags.
• In South Africa, through Symphony's licensee Astrapak, the country's
leading dedicated packaging manufacturer, all major retailers - including
Pick ' n Pay, Shoprite, Woolworths and Spar - are now using d2w(R) totally
degradable plastic bags in their retail operations.
Michael Laurier, Chief Executive, said:
By focusing on sales of our unique additive, and by working closely with end
users to meet their product needs, we are beginning to see our technology and
trademark being used by valuable new customers in innovative applications across
the world.
Recent widely publicised statements by market leading retailers in the UK, and
USA, together with the continuing legislative intent to deal with the problems
of plastic waste, are adding to the increasing motivation of suppliers and
manufacturers to take active steps towards adopting more environmentally
friendly plastics.
The momentum generated by this activity can only be positive and, with that in
mind, we intend to maintain the pace and intensity of our efforts.
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
Ged Brumby
Freida Moore
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 d2w(R) registered 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 d2w(R) 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. d2w(R) 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.
End
This information is provided by RNS
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