Accsys Technologies Plc (AXS) – Titan Wood Enters into an Agency Agreement with PEG Resources S.A
Accsys Technologies PLC announces that Titan Wood Limited, its wholly-owned subsidiary, has entered into an agency agreement with PEG Resources S.A., in respect of the rights to source and develop a licensing infrastructure to manufacture Accoya® wood throughout the African continent. The two companies have targeted several African countries to explore licensing opportunities for the production of Accoya® wood.
Willy Paterson-Brown, Executive Chairman of Accsys, said, “PEG is an ideal partner for developing the potential of the African market. Their expertise in project engineering and environmental studies, strong government relationships and financial partnerships gives them the experience we need to cultivate the potential for Accoya® wood licensing in Africa.”
Marc Lambert, Chief Executive Officer of PEG, added, “Accoya® wood is the gold standard of quality and sustainability in the wood industry today. Reforestation programmes, responsible forest management and sustainable wood processes, are the future for many African countries and will be well supported by the West. We plan to develop the infrastructure to support these advances and believe that Accoya® wood has a significant role to play.”
Mr. Lambert continued, “Cameroon, Gabon, Central African Republic, Congo, Democratic Republic of Congo, Equatorial Guinea, and Sierra Leone will be some of the initial areas for us to focus on; however, our interest spans from Algeria to South Africa. European investment, from both government and the private sector, into the development, rehabilitation and management of forest interests in central African countries means that sustainability is the key for long term success. We are delighted to be working with Accsys and a number of governments for such progressive environmentally responsible development.”