Accsys Technologies Unit Inks Deal With PCG To Evaluate Tricoya Plant

LONDON (Alliance News) - Accsys Technologies PLC on Wednesday said its subsidiary Tricoya ...

Alliance News 9 January, 2019 | 10:13AM
Email Form

LONDON (Alliance News) - Accsys Technologies PLC on Wednesday said its subsidiary Tricoya Technologies Ltd has now entered into an agreement with Malaysian chemicals producer Petronas Chemicals Group Bhd.

Accsys shares were trading 6.4% higher on Wednesday at 123.46 pence each.

The chemical technology company explained that it intends to evaluate the feasibility of jointly funding, designing, building and operating an integrated acetic anhydride and Tricoya wood elements production plant in Malaysia.

The evaluation is expected to include preliminary engineering studies, regional customer and market feasibility assessments and financing arrangements.

Under the terms of the deal, the parties have agreed to carry out the evaluation exclusively for a period of at least 18 months.

"This is an exciting and important step for Accsys, with the potential to open up new markets for Tricoya in Asia," said Accsys Chief Executive Paul Clegg.

"We are really pleased to be exploring the expansion of our global manufacturing footprint with PCG, a major international chemical company, with such a strong Asian presence," added Clegg.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

Email Form
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.