INEOS, Accsys develop commercialise Tricoya technology

INEOS, Accsys to develop and commercialise Tricoya technology

4:54 AM, 9th October 2012
INEOS, Accsys to develop and commercialise Tricoya technology
Peter Williams, CEO, INEOS Technologies.

ROLLE, SWITZERLAND: INEOS Technologies and Accsys Technologies have formed a 50:50 joint venture to further develop and commercialise Tricoya technology on a worldwide basis. The new business will trade under the name of Tricoya Technologies Ltd. Accsys will grant the joint venture exclusive global rights to its proprietary acetylation technology for the production and licensing of Tricoya for use within medium density fibreboard (MDF), particle board and wood plastic composites.

INEOS Technologies will bring significant resources, including its process technology, licensing expertise and global reach to commercialise the Tricoya process across the worldwide panel products market - currently estimated to be worth more than €60 billion annually.

All future licensing agreements for Tricoya wood elements will now be carried out by the new Tricoya joint venture. Earnings generated by the new JV will be split to reflect the relative interests and contributions of the two parties. INEOS Industries Holdings Limited has subscribed for new shares in Accsys and received a warrant instrument allowing the opportunity to purchase further shares at certain times during the course of the next four years.

“We are delighted to have joined Accsys in this new field. The outstanding durability and stability of Tricoya offers the building industry valuable new options for the application of high-performance, cost-competitive, and more sustainable, wood based materials. Our skills complement those of our partner, and together we will realise important synergies for the new company. We are looking forward to the joint venture accelerating the commercialisation of this new materials technology around the world,” said Peter Williams, CEO, INEOS Technologies.

© WOC News 



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