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Friday, 9 February 2018

Cleantech Building Materials: Thailand Distribution and Offtake Agreement

Cleantech Building Materials    

Published: 11:05 CET 09-02-2018 /GlobeNewswire /Source: Cleantech Building Materials / : CBM /ISIN: GBOOBD1LVD21

Cleantech Building Materials: Thailand Distribution and Offtake Agreement

9 February 2018

 

 

 

CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH, COPENHAGEN

 

 

TICKER:  CBM

 

 

CLEANTECH BUILDING MATERIALS PLC

 

THAILAND DISTRIBUTION AND OFFTAKE AGREEMENT

 

 

Cleantech Building Materials PLC ("CBM" or the "Company") is pleased to announce that CBM's subsidiary, Diamond Wood China Limited ("Diamond Wood") has entered into a Distribution and Offtake Agreement with the Seedatanarice Group of Thailand ("STR") ("Agreement").

 

Under the terms of the Agreement, STR has committed to purchase a significant volume of Accoya® wood from Diamond Wood to be sold to manufacturers and project contractors in the Thai region. The initial duration of the agreement is for three years.


Diamond Wood benefits from exclusive rights to manufacture and sell Accoya® wood in China and the ASEAN countries, through its technology license agreement with Titan Wood Limited, a subsidiary of Accsys Technologies plc.

 

Based in Bangkok, Thailand, STR is a pioneering company which focuses on premium eco-friendly product in the energy and construction sectors, and is extending its development of sustainable construction materials. 

 

Commenting, Jason Wang, CEO of CBM and Diamond Wood, said "We are pleased to partner with STR on accelerating the growth of Accoya® wood sales in the Thai market. In China and Asia there is an increasing awareness of the Accoya® wood brand and the applications in producing high-performance flooring, decking, siding, outdoor furniture, windows and doors"

 

Commenting, Paul Richards, Chairman of CBM, said "This three-year distribution and offtake agreement with STR builds upon a similar large volume agreement with China's Xinli Group in Q4 2017. Diamond Wood is successfully building a solid order book in anticipation the Company's plan to construct its own Accoya® wood manufacturing facility in China."


Commenting, Mr.Thawat Chanthawat, Managing Director of Seedatanarice, said "Accoya® wood has already been used in some high profile Thai resort projects during the past few years with much success. It has a reputation as a top-quality, high-performance product. Through our local relations with architects, manufacturers, and contractors we anticipate strong sales in the coming years."

 

THE DIRECTORS OF CLEANTECH BUILDING MATERIALS PLC ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

 

Further information may be found at the Company's website at www.cbm-plc.com

 

 

 

For further information, please contact:

 

Cleantech Building Materials plc

Adrian Wyn-Griffiths

 

info@cbm-plc.com

+44 20 3934 6630

 

 

 

Keswick Global AG (Certified Adviser)

info@keswickglobal.com 

+43 1 740 408045

 

 

IFC Advisory Limited (Financial PR)

Tim Metcalfe

Miles Nolan

Heather Armstrong

+44 20 3934 6630

 

 

The information communicated in this announcement is "inside information" for the purposes of article 7 of the Market Abuse Regulation 596/2014.

 

 

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Cleantech Building Materials, 7 Trebeck Street, London W1J 7LU, UK
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