LONDON, April 29 /PRNewswire/ -- Symphony Environmental Technologies Plc, the degradable plastics and waste-to-energy group, has signed a Distribution and Manufacturing Agreement with the Fujairah Plastics Group of Sharjah, United Arab Emirates, which is the largest degradable polymer supply agreement the group has ever made.
The agreement runs for 15 years and it will cover the territories of UAE. Bahrain, Kuwait, Oman, Egypt, Libya, Syria and Jordan. It is exclusive for specific grades of Symphony's newly-developed d2w(TM) degradable polymers.
It will be implemented by its wholly-owned subsidiary, Symphony Environmental Ltd, the degradable plastics specialist, whose d2w(TM) technology can make plastics and polymers degrade completely in as little as six months.
Symphony will deliver a minimum of 500 tons of d2w(TM) polymers directly to Fujairah's newly established operating company, Ecopolymers Company, between 30th May and 20 August 2008. Once production is up and running, volumes are expected to reach more than 500 tons monthly.
Khalid Al Kaabi, managing director of the Fujairah Plastic Group (Sharjah) (U.A.E), said: "Fujairah is one of the largest and fastest-growing carrier bag producers in the U.A.E. and is concerned with the environmental effects of plastic pollution and litter.
"We are pleased to announce this agreement with Symphony for the use of its environmentally responsible d2w(TM) oxo-biodegradable plastic technology."
Commenting on the Agreement, Michael Laurier, Chief Executive of Symphony Environmental Technologies plc, said:
"This agreement sets the foundations for major expansion for both groups in the region. We are delighted to have completed this agreement with Fujairah Plastics as it consolidates a major part of our Middle East marketing and distribution strategy."
Note to Editors:
Symphony Environmental Technologies is quoted on the "AIM" market of The London Stock Exchange and is a world leader in oxo-biodegradable plastic technology In the last 12 months it is estimated that more than 5 billion plastic products have been made with Symphony's d2w(TM) additives.
Symphony is also developing innovative waste-to-energy technology and is developing cost-effective processes to convert plastics, tyres and other waste streams into valuable products.
Further information on the Symphony Group can be found at http://www.degradable.net
For further information, contact: Max de Trense Carteret Communications Tel: +44(0)207-828-8598 M: +44(0)7795-204078 Or Symphony Environmental Ltd Michael Stephen, Chairman Tel: +44(0)208-207-5900 M: +44(0)7917-796444 Symphony Environmental Technologies Plc Michael Laurier, CEO Tel: 020-8207-5900
For further information, contact: Max de Trense, Carteret Communications, Tel: +44(0)207-828-8598, M: +44(0)7795-204078 Or Symphony Environmental Ltd, Michael Stephen, Chairman, Tel: +44(0)208-207-5900, M: +44(0)7917-796444; Symphony Environmental Technologies Plc, Michael Laurier, CEO, Tel: 020-8207-5900