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Nu de koers nog....

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UPDATE: Accsys ziet eerste verbeteringen markt

16-2-2010 11:51:00

Accsys Technologies Plc (EUR)
0,50 ( 12:42 ) 0,02 / 4,17%

(Update van eerder gepubliceerd bericht 'Accsys ziet eerste verbeteringen markt' om toelichting CEO toe te voegen.)

AMSTERDAM (Dow Jones)--Accsys Technologies plc ziet de vraag naar milieuvriendelijk verduurzaamd hout aantrekken, zo meldt bedrijf dinsdag in een trading update.

"We beginnen de eerste verbeteringen te zien in het handelsklimaat en maken goede progressie op alle fronten", stelt bestuursvoorzitter (CEO) Paul Clegg. De verbetering is het gevolg van een uit het dal klimmende economie en focus op marketing van Accoya-hout.

Sinds 1 oktober tekende Accsys 11 nieuwe overeenkomsten in de Verenigde Staten, Canada, Europa en Azie voor de distributie van Accoya-hout.

Verder meldt het bedrijf dat het dankzij de eerder doorgevoerde procesverbeteringen in de productiefaciliteit in Arnhem kon voldoen aan de toegenomen vraag van zijn distributiepartners. Het volume van Accoya in de laatste drie maanden van 2009 steeg met 36% ten opzichte van dezelfde periode een jaar eerder.

Bemoedigend noemt Accsys de toegenomen belangstelling van bedrijven om zowel Accoya-hout als Tricoya-hout in licentie te produceren, hoewel veel gesprekken nog in de beginfase zijn en het niet duidelijk is of ze zullen worden voortgezet.

"Wat we uiteindelijk willen is licentieovereenkomsten afsluiten", licht CEO Clegg in gesprek met Dow Jones Nieuwsdienst toe. "Om dat te bereiken moeten wij ons product bewijzen in de markt. Dat heeft tijd nodig. De houtverwerkingsindustrie is een conservatieve industrie. Daarom hebben wij de nadruk gelegd op de relatie met bestaande distributeurs, en het vinden van nieuwe distributiepartners."

Accsys produceert sinds twee jaar Accoya-hout in Arnhem. In oktober 2009 werd het hoogste volume tot nu toe gerealiseerd, een naar jaarbasis omgerekende 15.000 kubieke meter. In noverber lag de productie "licht" lager, december is traditioneel een rustige maand.

Clegg verwacht de productie in Arnhem de komende jaren geleidelijk te kunnen opvoeren. Het doel is nog steeds om in de tweede helft van het gebroken boekjaar 2011/2012 op een productie te uit te komen van 30.000 kubieke meter op jaarbasis, zo verzekert de CEO. De faciliteit in Arnhem heeft een capaciteit van 40.000 kubieke meter per jaar.

Voor wat betreft Tricoya-hout op basis van MDF verwacht Accsys in de tweede helft van dit fiscale jaar, dat eindigt op 31 maart 2011, de ontwikkelingssamenwerking met Medite Europe Ltd. te kunnen omzetten in een licentieovereenkomst, afhankelijk van een succesvol ontwerp van het productieproces.

Door Harm Luttikhedde; Dow Jones Nieuwsdienst +31-20-571-52-01; harm.luttikhedde@dowjones.com
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quote:

xblue schreef:

Helaas het dagelijkse blok staat er weer.
Op een dalande beurs gaan we toch omhoog .0,51 is toch niet slecht ,en daarbij hebben ze ongeveer 35 % meer verhandeld ,dus de toekomst zie ik met vertrouwen te gemoed . Ben benieuwd naar de cijfers ,weet iemand wanneer die komen.
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In Intermediair stond een personeelsadvertentie voor Titan Wood (de fabriek in Arnhem). Daaruit bleek in elk geval dat de recente persberichten waarin gewag wordt gemaakt van een groeiende omzet, worden bevestigd.

Fundamenteel wordt hout genoemd als commodity, waarvan de prijzen de komende periode zullen stijgen door een toenemende vraag.

Voor de wat langere termijn geeft mij dat positieve verwachtingen voor de koers van ACCSYS. Maar het kan best nog lang duren voordat beleggers het aandurven om de 53 ct. te passeren. Anderzijds kan het met dit aandeel best hard gaan als het eenmaal op stoom komt. Een verdubbeling van de koers over een jaar houd ik niet voor onmogelijk.
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Hoe zit het met de bouw van accoya fabrieken in China voor Diamond Wood? Daar zou een capaciteit komen van 500.000 m3. Door de crisis zou dit langer gaan duren ivm rondkomen vd financiering. Heeft Arnhem nog steeds de enige fabriek?
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Accsys focusing on business development
Paul Clegg needs to rebuild investor confidence in Accsys Technologies before the company gets targeted by private equity firms.

By David Sumner Smith
Published: 3:33PM GMT 24 Feb 2010


Paul Clegg: 'it's all about sales and business development now' Photo: GEOFF PUGH Nick Clegg faces a challenge persuading the electorate to believe in the Liberal Democrats as a party of government.

But his elder brother Paul faces a similarly daunting challenge. He needs to rebuild the belief of investors who have lost large sums in Accsys Technologies while he steers the company to profitability.


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A Suit That Fits Conkers provide a clue to Accsys' original appeal to investors. When soaked in vinegar and oven baked, conkers become extra hard.

Accsys uses a similar patented process called acetylation to change softwoods at a molecular level, making them more stable, durable and strong than teak and other precious hardwoods.

Investors were excited by the prospect of turning abundant, fast-growing softwood from certified sustainable forests into a high performance material called Accoya with a 50-year guarantee.

With reputable customers specifying timber from sustainable sources and legislators clamping down on chemical treatments, Accoya offered an attractive solution.

Having originally been created through Dutch government funding of a university research project, Accsys raised €27m (£24m) through a listing on Aim in October 2005. This funded an acetylation plant in Arnhem.

The company was listed on Euronext in September 2007 and corporate investors rushed in. The share price grew to €4.58, giving a market capitalisation of more than €600m.

"Everyone in Accsys felt like they could walk on water," says Clegg, "and shared the investors' vision of royalties flooding in from licensees".

It got off to a good start. A Saudi group bought licences for the Gulf states and an American entrepreneur called Greg Lee formed a new company called Diamond Wood to produce Accoya in China.

"People assumed Accoya would sell itself," says Clegg. This led to "some bad management decisions" including a structure with an executive chairman in Geneva and a chief executive who managed the Arnhem plant and the Hammersmith central offices from premises in Dallas.

As the global economy deteriorated, sales of licences dried up completely. Potential licensees were unable to raise the necessary funds to invest in production plants that would typically take two years to come on stream. The problem was compounded by a drop in hardwood prices.

Accsys was slow to react. "The company over-committed on expenditure before achieving the sales it needed," says Clegg, especially when the business was losing an average of €2.7m a month.

The share price sank to €0.51 as investors realised the firm would run out of money if the cash-burn continued.

Clegg joined the board in April 2009, after years running European operations for an American investment bank, with a mission to restructure the business and cut costs.

Urgent action was essential. In one dramatic month the workforce was cut from 150 to 102, the travel bill was slashed by €100,000 per month and costs reduced by 25pc.

Instead of waiting for big licence deals to arrive, Accsys focused its sales effort onto distribution agreements for the Accoya wood produced in Arnhem.

A dozen distributors in countries as diverse as China and Scandinavia now sell Accoya.

Some successes have been achieved, including its use for a 32 metre road bridge and canal lining in Holland, and all the walkways and kiosks at Disneyland in Hong Kong.

But there is no "landmark" project yet, with most of the uses for Accoya being "bread and butter" applications such as door and window frames.

Clegg has also succeeded in raising a further €17m from institutional investors but unless Accsys can start generating income quickly, its share value will drop further and the company risks being snapped up by a private equity company.

Much will depend upon the success of Greg Lee in raising €80m for his production plant in Nanjing.

If he is successful, Accsys receives a lump sum payment of €4m and €750k per month until the royalties kick in. This will give a positive cash flow.

Accsys is also working on a joint development project with Medite, one of Europe's biggest producers of MDF (medium-density fibreboard).

Acetylated wood fibres and chips can be used in long-lasting wood panel products that can be used outdoors. Some observers believe the potential for the Tricoya panels will be even greater than that for Accoya wood.

The number of live discussions with potential licensees has grown three-fold since September, but despite "life coming back to the market", no extra licence sales have been achieved yet.

"We have taken Accsys from a wood acetylation R&D company with the world's largest wood modification plant," says Clegg, "into a commercially focused company selling licences in wood acetylation."

2010 is going to be a crucial year. "It is all about sales and business development now," says Clegg.

"If we get it right our market capitalisation will be between €1bn to €2bn within five to six years." If they get it wrong, there will be a lot of very disappointed investors.
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Experts' view of Accyss Technologies
Simon Dolph of the Chartered Management Institute, Clive Lewis from ICAEW and Richard Burridge from UKTI London evaluate Paul Clegg's plans for Accyss Technologies.

Published: 3:32PM GMT 24 Feb 2010

Simon Dolph, Marketing director, Chartered Management Institute

I agree with Paul Clegg on his assessment that Accsys now has to concentrate on sales and business development. However, while it waits for the big-money licensees to come through it needs to keep at least 50pc of its sales effort focused on the bread and butter of distribution agreement sales.


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Thousands of households in the wrong council tax banding, it is claimedI would split the salesforce into two, each managed by a heavyweight sales manager. I would get the research team to identify all potential distributors in the key target countries. Attention could also be paid to commercial partnerships. If door and window frames are core applications, there must be an opportunity to promote the cost-effective nature of this technology in joint ventures with house builders and DIY firms.

I would conduct a direct marketing campaign comprising a piece of physical DM built around its unique proposition followed with appointment generating phone-calls for the distributor focused sales team. By working with consumer-focused builders or builders merchants, Clegg may be able to generate sales.

Clive Lewis, Head of enterprise, ICAEW

Paul Clegg needs to raise public awareness of Accoya and its environmental benefits. Increasing the number of distributors can help but, in the end, it will be demand from the public for sustainable wood with the consequent pressure on legislators which will help most.

Big projects such as Diamond Wood may eventually bring in payments and royalties but it will also hugely increase production capacity. With the Arnhem plant nowhere near full capacity this may not be the hoped for silver lining.

Clegg has succeeded in increasing the number of staff employed in producing immediate revenue and reducing those on other activities. This has significantly reduced the cash consumed. The Arnhem plant is more than just for manufacturing wood for resale. It also demonstrates the process to potential licensees and to act as technology centre to support them.

The focus on increasing revenue is absolutely right. But developing demand for Accoya may take longer than the remaining cash resources allow. It might come down to further cash conservation measures.

Richard Burridge, International trade adviser, UKTI London

The message to Paul Clegg must be, "more of the same". The current management structure needs change, however and Clegg must appoint a new chief executive. He should also bring in experienced non-executive directors with high-level construction industry contacts.

The sustainable nature of the product will appeal to architects and specifiers and Accsys, through its distributors, must promote the product to this sector of the market via high-profile events in target overseas markets.

Landmark projects can be good for PR, but rarely generate high margins. Regular business, such as door and window frames, though unglamorous, is likely to produce the sort of profits needed to achieve positive cash flow. Clegg should also develop more agreements similar to Medite, producing solid, regular sales revenue.

The Middle East construction market remains largely buoyant and, though potentially difficult and expensive, Accsys should appoint individual distributors for each Gulf market.
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Much will depend upon the success of Greg Lee in raising €80m for his production plant in Nanjing.
If he is successful, Accsys receives a lump sum payment of €4m and €750k per month until the royalties kick in. This will give a positive cash flow.
If we get it right our market capitalisation will be between €1bn to €2bn within five to six years." If they get it wrong, there will be a lot of very disappointed investors.

Zonder die fabriek in China ziet het er niet rooskleurig uit. De fabriek in Arnhem kan 40.000 m3 produceren, maar op 1 been kun je niet lopen.

Als die fabriek er wel komt dan kan het aandeel in de komende 5 tot 6 jaar wat mij betreft naar de 10 euro.
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Diamond Wood is addressing a growing market for performance wood, which in China alone has already reached over $20bn USD per year. The company works with domestic Asia construction firms and Asian manufacturers of wood products to support their offering of high-quality products made from sustainable wood.

Asian manufacturers of wood products are concerned about developing market trends of decreasing tropical hardwoods supplies and legislation that further reduce available supplies by requiring all wood imports come from legally logged sources. Diamond Wood expects that these trends will further increase the demand for the company's unique Accoya® Wood offering.

Diamond Wood expects construction of it its first phase of the Nanjing production facility to begin deliveries in early 2011. Until the Nanjing factory is completed and operational, the Company will import Accoya® Wood from Titan Wood's factory in Europe with a view to developing key Asia customers and channel partners.

Betekent dit dat de leveringen begin 2011 beginnen, dus dat er vanaf being 2011 kan worden geproduceerd? Kan nergens vinden hoever men is met de financiering of de bouw van de fabriek.
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Okay, de laatste voor vandaag. Zoekt en gij zult vinden.

Diamond Wood's exclusive licence will allow it to manufacture up to 750,000 m3 p.a. of Accoya® Wood. Its first factory in Nanjing, capable of more than 360,000 m³ of Accoya® wood per year, is expected to be fully operational in 2011. Although the factory will position Diamond Wood as the largest single timber supplier in Asia, the company will still only be addressing a small part of the growing 24 million m3 per year market for performance wood in China.

Diamond Wood was incorporated in Hong Kong in 2007. It is led by a seasoned management team made up of senior Western and Asian professionals with combined experience of constructing and operating chemical factories in Asia, and marketing building materials across the region.

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Complimenten voor uitzoeken en plaatsen Gerardo! Koers kan nog een poos (zes a negen maanden schat ik) doorsukkelen, maar de fundamenten voor een mooie ontwikkeling zijn gelegd. Gaat er een keer uitkomen.
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In dit artikel gaat Clegg uit van een marktkapitalisatie van Accsys tussen 1 biljoen euro en de 2 biljoen euro:

www.telegraph.co.uk/finance/businessc...

Een ander artikel hier: www.telegraph.co.uk/finance/businessc...

Ik zie nu pas dat deze artikelen al waren geplaatst (sorry).
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NIEUWE CFO



Accsys Technologies Plc (EUR)
0,50 ( 16:28 ) 0,01 / 2,04%

Accsys benoemt Hans Pauli tot nieuwe CFO

01-03-2010 08:17:00

AMSTERDAM (Dow Jones)--Accsys Technologies plc heeft Hans Pauli benoemd tot chief financial officer (CFO) met ingang van 1 april, maakt het bedrijf maandag bekend.

De vijftigjarige Pauli, afkomstig van biotechbedrijf OctoPlus nv, neemt het stokje bij Accsys over van Kevin Wood, die non-executive director wordt bij de producent van verduurzaamd hout.

Pauli zal zijn tijd verdelen tussen het hoofdkantoor in Londen en de fabriek in Arnhem.

"We geloven dat zijn ervaring gekoppeld aan zijn aanwezigheid als bestuurder in Arnhem het bedrijf zullen versterken, nu de productie van Accoya-hout in Arnhem blijft toenemen en we hernieuwde wereldwijde belangstelling zien voor potentiele licentienemers", aldus bestuursvoorzitter Willy Paterson-Brown.

Daarnaast meldt het bedrijf dat Accsys-bestuursleden Tim Paterson-Brown en Tom Priday met ingang van 31 maart terugtreden als non-executive directors, om zich te richten op andere zaken.
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Weet iemand wanneer de cijfers van accsys komen want kan dit nergens vinden . groetjes en tot morgen.
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Op de site staat:
01/03/2010 Investor Presentation - Interim Results to 30 September 2009 & February 2010 Update

maar is ik die link aanklik krijg ik "adres ongeldig". Misschien doet de link het morgen?
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Van de site van Accsys (link: www.accsysplc.com/admin/NewsLetter/Do... )
Het eerste mdf panel (Medite Tricoya) is gefabriceerd.


3 March 2010
Accsys Technologies PLC Unveils World's First Medite Tricoya® Panel at Ecobuild 2010
Accsys Technologies PLC ("Accsys") yesterday unveiled the world's first Medite Tricoya® panel at the annual Ecobuild exhibition, together with Coillte Panel Products.
Speaking at a lunchtime reception attended by some 50 key industry opinion formers, company's stakeholders and distributors as well as influential national press yesterday, Paul Clegg, Chief Executive Officer of Accsys, said this trial panel marks one of the first true innovations in the wood composites industry in more than 30 years.
Mr Clegg says: "We are very excited to unveil the first Medite Tricoya® panel to our business partners, industry friends and media at Ecobuild today. This innovative product is based on the same acetylation process that creates Accoya® wood, the world's leading high technology solid wood product. This time, the technology is applied to treat the chips and fibres, which make up Medite MDF (medium density fibreboard) panels."
Gerard Britchfield, Managing Director of Medite's parent division, Coillte Panel Products, adds that this next generation panel has very strong environmental credentials as it combines the traditional superb machinability and smoothness properties of Medite MDF with the sharply enhanced performance characteristics delivered by the Tricoya® process, particularly with regard to durability and dimensional stability in wet environments.
"Following the signing of the Joint Development Agreement last year, this is an important step forward. However, we still have a significant body of technical research and market assessment to complete in 2010 in order to bring this commercial feasibility stage of the development progress to a definitive conclusion," Mr Britchfield says.
At the reception, Paul was also delighted to announce two additional achievements of Accoya® wood as follows:
1. billed as a low carbon alternative compared to other conventional construction materials following a recent assessment by Camco, a leading environmental consultancy
2. named as a 'Gold standard' product under the Cradle to CradleSM (C2C) Certification scheme that has become one of the most important eco-labels worldwide
By significantly enhancing the durability and dimensional stability of abundantly available fast- growing certified wood species, Accoya provides compelling environmental advantages over slow-growing hardwoods (which are often unsustainably sourced), woods treated with toxic chemicals and non-renewable carbon-intensive materials such as plastics, steel and concrete.
The reception was also attended by some key opinion formers in the timber industry, including Charles Trevor, Chairman of the Wood Technology Society. He commented that the timber industry in the UK is now facing challenging times due to the recent recession, competition from other building materials and low promotional spend.
"However, the good news is that more people than ever understand that timber is the most sustainable building material for the 21st Century. In addition, engineered wood products like glulam, LVL and cross laminated timber have brought a new and welcome predictability to the business of specifying wood. Now Accoya® wood can be added to this list of engineered wood products - engineered because it has been modified and quality assured for decay resistance, durability and dimensional stability."
Accsys is exhibiting the first Medite Tricoya® panel and Accoya® wood at Ecobuild's Stand 2494 held at London's Earls Court from Tuesday 2 March to Thursday 4 March.
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quote:

Cementwagen schreef:

Van de site van Accsys (link: www.accsysplc.com/admin/NewsLetter/Do... )
Het eerste mdf panel (Medite Tricoya) is gefabriceerd.


3 March 2010
Accsys Technologies PLC Unveils World's First Medite Tricoya® Panel at Ecobuild 2010
Accsys Technologies PLC ("Accsys") yesterday unveiled the world's first Medite Tricoya® panel at the annual Ecobuild exhibition, together with Coillte Panel Products.
Speaking at a lunchtime reception attended by some 50 key industry opinion formers, company's stakeholders and distributors as well as influential national press yesterday, Paul Clegg, Chief Executive Officer of Accsys, said this trial panel marks one of the first true innovations in the wood composites industry in more than 30 years.
Mr Clegg says: "We are very excited to unveil the first Medite Tricoya® panel to our business partners, industry friends and media at Ecobuild today. This innovative product is based on the same acetylation process that creates Accoya® wood, the world's leading high technology solid wood product. This time, the technology is applied to treat the chips and fibres, which make up Medite MDF (medium density fibreboard) panels."
Gerard Britchfield, Managing Director of Medite's parent division, Coillte Panel Products, adds that this next generation panel has very strong environmental credentials as it combines the traditional superb machinability and smoothness properties of Medite MDF with the sharply enhanced performance characteristics delivered by the Tricoya® process, particularly with regard to durability and dimensional stability in wet environments.
"Following the signing of the Joint Development Agreement last year, this is an important step forward. However, we still have a significant body of technical research and market assessment to complete in 2010 in order to bring this commercial feasibility stage of the development progress to a definitive conclusion," Mr Britchfield says.
At the reception, Paul was also delighted to announce two additional achievements of Accoya® wood as follows:
1. billed as a low carbon alternative compared to other conventional construction materials following a recent assessment by Camco, a leading environmental consultancy
2. named as a 'Gold standard' product under the Cradle to CradleSM (C2C) Certification scheme that has become one of the most important eco-labels worldwide
By significantly enhancing the durability and dimensional stability of abundantly available fast- growing certified wood species, Accoya provides compelling environmental advantages over slow-growing hardwoods (which are often unsustainably sourced), woods treated with toxic chemicals and non-renewable carbon-intensive materials such as plastics, steel and concrete.
The reception was also attended by some key opinion formers in the timber industry, including Charles Trevor, Chairman of the Wood Technology Society. He commented that the timber industry in the UK is now facing challenging times due to the recent recession, competition from other building materials and low promotional spend.
"However, the good news is that more people than ever understand that timber is the most sustainable building material for the 21st Century. In addition, engineered wood products like glulam, LVL and cross laminated timber have brought a new and welcome predictability to the business of specifying wood. Now Accoya® wood can be added to this list of engineered wood products - engineered because it has been modified and quality assured for decay resistance, durability and dimensional stability."
Accsys is exhibiting the first Medite Tricoya® panel and Accoya® wood at Ecobuild's Stand 2494 held at London's Earls Court from Tuesday 2 March to Thursday 4 March.
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Laatste tijd zoveel positief nieuws naar buiten gekomen, koers staat in verhouding veel te laag . Je zou zeggen dat de koers de komende tijd naar boven uit zou moeten breken.
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