Accsys Technologies Plc (LON: AXS) has entered into a joint venture with Eastman Chemical Company.
- A new company has been formed, and a technology licence has been entered into so that front-end engineering and design for the proposed plant in the USA can be completed.
- The joint venture company, Accoya USA LLC intends to construct and operate an Accoya® wood production plant to serve the North American market.
- The company’s share of the initial engineering and design costs is expected to be around €1.5 million, in-line with the use of proceeds from its fundraised in December last year.
- On 12August 2020, at the time of writing, GMT 08:49 AM, AXS shares were trading at GBX 91.20, up by 4.70 points or 5.43% against the previous day closing price.
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