Accsys Technologies announces completion of INEOS subscription
Accsys Technologies, which recently announced a 50:50 joint venture with NEOS Industries Holdings, has announced the completion of INEOS's subscription for 23.53m shares in Accsys at 0.17 euro per share.
Accsys Technologies, which recently announced a 50:50 joint venture with NEOS Industries Holdings, has announced the completion of INEOS's subscription for 23.53m shares in Accsys at 0.17 euro per share.
The two companies have formed a new joint venture company, Tricoya Technologies, which has been formed to develop and exploit Accsys' Tricoya technology for use within MDF, particle board and wood plastic composites.
Paul Clegg, Accsys' Chief Executive Officer, said: "We are very pleased and encouraged to be able to welcome INEOS, a global petrochemical player and a global leader in the field of technology development and licensing, as a significant shareholder in Accsys.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"This €4.0m investment, together with INEOS's commitment to the Tricoya Technologies Limited joint venture strengthens Accsys' position as the undisputed world leaders in wood modification technology and enhances our ability to deliver value from our technology platform."
NR
-
Adidas, Nike or Jordans - could collectable trainers make you rich?
The right pair of trainers can fetch six figures. Here's how you can start collecting vintage Adidas, Nike or Jordans now
By Chris Carter Published
-
Early bird ISA investors flock to global funds, India and the US
There’s been an increase in investors maxing out their ISA at the start of the new tax year. But where are they putting their cash and why does it make sense to be an early bird investor?
By Vaishali Varu Published