Symphony Plastic Technologies PLC
22 February 2007
Symphony Plastic Technologies plc
Trading Update
Symphony Plastic Technologies Plc ('Symphony' or the 'Group'), the degradable
plastics and waste-to-energy company, is announcing that sales for the first
quarter are expected to be below management expectations. The directors were
encouraged by the performance of the business in the fourth quarter of 2006,
however the anticipated move into profitability since then has been delayed due
to the slippage of orders in some overseas markets and the directors taking a
more cautious view on the timing of the recovery following the change in the
strategic direction of the group in 2006.
The UK market in the past has been slow to accept change to oxo-degradable
technology but there is rising interest in the concept of d2w(TM)additive
technology and products. This increase in momentum is being created by a general
desire to make changes to a low cost eco-friendly alternative without having to
change product type or supplier. Symphony is establishing good relationships
with manufacturers and suppliers and has an increasing rapport with end users.
Our current negotiations create a seamless inclusion of d2w(TM)additive
technology within existing supply chains. Symphony's d2w(TM)additives are being
used in products that are found in some of the UK's largest grocery retailers.
These products include carrier and produce bags. Considerable development work
is ongoing in a diverse range of new products and applications.
Legislation is continually changing and evolving on a local, state and national
level in which oxo-degradable technology is being seen as a viable cost
effective environmental alternative to the management of plastic products and
waste.
As a result of these changes and with the d2w(TM)brand technology being one of
the world's most established and lowest cost environmental options we believe
that there is a likelihood that other markets will be encouraged to make similar
changes rather than banning plastics entirely.
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
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(TM)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(TM)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 and growing customer base in the UK and has successfully
established itself as an international business after signing distribution
agreements with companies in Argentina, Brazil, Canada & USA, Chile, Colombia,
India, Mexico, New Zealand, Peru, Portugal, South Africa, the Caribbean, Saudi
Arabia, and Qatar. d2w(TM)products can already be found in more than 40
countries.
Symphony is now marketing and developing innovative waste-to-energy technology
processing plants and is exploring various opportunities where there is a demand
to increase recycling of waste plastics, tyres and other waste streams by cost
effective processes.
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
TSTTTMLTMMATMPR
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.