Accsys Technologies plc has announced plans to offer new and existing shares for a listing on the Dutch stock exchange.
The London-based wood products manufacturer intends to offer five million new shares and 10 million existing shares on Euronext Amsterdam, with the intention of using the funds raised to double the manufacturing output of its Arnhem plant, where Accoya is produced; increase warehousing and storage space; develop brand and product marketing; implement commercially-viable wood fibre technology for panel products; up staff numbers and licensing levels; and maximise the potential of Accoya by promoting it as a product suitable for civil and structural applications.
“We are looking forward to being listed on Euronext Amsterdam…and excited about taking the company to its next stage of development,” said chairman and chief executive officer William Paterson-Brown.
Accsys Technologies has also announced that its fully-owned subsidiary Titan Wood Ltd, which manufactures Accoya, has agreed a deal with Skanfore China SA to produce 500,000m³ of the modified wood product in China.
The agreement gives Skanfore China exclusive Chinese rights to the Accoya product for 12 months and, according to Mr Paterson-Brown, “bodes well for a substantial licensing of capacity over future years”.
