22 March 2012
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC China Exclusive Distribution Agreement ("the "Agreement")
Symphony Environmental Technologies plc ("Symphony"), the
specialist in advanced plastics technologies including d2w
controlled life and d2p anti-microbial products, and
waste-to-value group (the "Group"), is very pleased to
announce the signing in Hong Kong of a 20 year exclusive
distribution agreement for the People's Republic of
China, (excluding Hong Kong and Macau), between its
wholly-owned subsidiary Symphony Environmental Ltd and the
newly-formed Super Success International Limited
("SSI"). This is Symphony's first exclusive
distribution agreement for China, and represents an important
sales initiative for d2w in one of the world's largest
markets.
The Agreement is for d2w and d2detector technologies, and SSI
has placed a firm and material order for d2w for delivery
within 90 days of the agreement signature date. In addition,
and within 90 days of the date of the agreement, SSI will
purchase one d2detector unit.
The Agreement details minimum purchase orders for each 12
month period in order to maintain exclusivity which, if
reached, would make a material contribution to the Group. The
parties will consider extending the Agreement to include d2p
in due course.
The parties were introduced through the Global Alliance
Partners network shareholders of Symphony; MAC Capital
Limited in Dubai, and Quam Limited in Hong Kong
Grant of Options
Mr Stetson Chung, CEO of Great East Packaging Holdings
Limited (a client of Hong Kong based Symphony shareholder
Quam Limited) will receive a grant of options in lieu of fees
for his part in the introductions and negotiations that have
resulted in the Agreement. For this and his continued
assistance with the operation of the Agreement over the first
year he has been granted 1 million share options in Symphony.
These options have an exercise price of 10p per share and can
only be exercised after one year and provided the minimum
volumes under the Agreement have been met and the
Distributor's obligations under the Agreement have been
performed.
Symphony
Michael Laurier, CEO Tel: 020 8207 5900
Ian Bristow, FD
Seymour Pierce
Stewart Dickson / Freddy Crossley (Corporate Finance) Tel:
020 7107 8000
Katie Ratner / Jacqui Briscoe (Corporate Broking)
Bishopsgate Communications
Nick Rome/Shabnam Bashir Tel: 020 7562 3350
NOTES TO EDITORS: About Super Success International LimitedSuper Success International is a newly formed company that was created by Mr Wang Liming. Mr Wang is Chairman of Dongguan Energy Saving and Environmental Protection Co. Ltd. He is a member of the Tenth Executive Committee of Chambers of Commerce and Industry and has several other important government associations and connections.
About Eddie Yue CEO.
With more than 20 years experience across Hong Kong, Canada,
Taiwan and China. Eddie held a number of major roles in
public listed companies in the Information Management &
Logistics industry, as well as manufacturing. Eddie has led
significant growth through the introduction of new products
and by expanding into new markets. He
has contributed tremendously to the success of sales and
marketing in the Greater China market formerly with Databox
as Deputy Country Manager and COO of Great East Packaging
Holdings Ltd.,
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC is a specialist in controlled-life plastic technology and products - a system that works by a process called oxo-biodegradation. The technology is branded d2w® and appears as a droplet logo on many thousands of tonnes of plastic packaging and other plastic products.
Symphony's d2w® technology turns plastic at the end of its service-life into a material with a completely different molecular structure. At that stage it is no longer a plastic and can be bioassimilated in the open environment in the same way as a leaf.
For a video of d2w® plastic degrading see http://degradable.net/play-videos/4
Symphony has a diverse and growing customer-base and has established itself successfully as an international business with 67 distributors around the world. Products made with d2w® plastic technology can now be found in more than 96 countries and in many different product applications.
Symphony is a member of The British Plastics Federation (BPF), the Oxo-biodegradable Plastics Association (www.biodeg.org), and the Society for the Chemical Industry (UK). Symphony is also a member of the European Organisation for Packaging & the Environment (Europen), and the Pacific Basin Environmental Council, Symphony actively participates in the Committee work of the British Standards Institute (BSI), the American Standards Organisation (ASTM), the European Standards Organisation (CEN), and the International Standards Organisation (ISO).
Symphony also supplies d2p anti-microbial technology that can be used in most types of plastic products to help protect against infection, and has developed d2Detector, a portable device which analyses plastics and detects counterfeit products.
Symphony is also developing innovative and cost-effective waste-to-value technology to convert scrap tyres and other waste-streams into valuable products.
Further information on the Symphony Group can be found at www.d2w.net.
distributed by | This press release was issued by Symphony Environmental Technologies plc and was initially posted at http://symphonycorporate.co.uk/files/uploaded/181_China_22_March_2012.pdf . It was distributed, unedited and unaltered, by noodls on 2012-03-22 11:29:45 AM. The issuer is solely responsible for the accuracy of the information contained therein. |