Accoya revenue grows10 August 2012
Accoya modified wood producer Accsys Technologies plc boosted its turnover by 35% to €4.5m in its first quarter ended June 30, compared to a year ago.
The London-based company, which recently posted a €14.4m after tax loss, also said it had a healthy cash balance of €23.1m as at June 30.
Accsys CEO Paul Clegg said the company had made excellent progress during the quarter, including the signing of an agreement with a Latin American board manufacturer for the production and sale of Tricoya modified panels.
Other agreements include a licence deal with Solvay-Rhodia and, more recently, a heads-of-terms agreement with INEOS Industries for a joint venture to exploit the Tricoya technology for use within MDF, chipboard and wood-plastic composites.