Tricoya agreement could open way for modified wood panels in SE Asia10 January 2019
Accsys, the company behind Accoya modified wood, has announced that its subsidiary, Tricoya Technologies Limited (TTL), has entered into an agreement with PETRONAS Chemicals Group Berhad (PCG) to potentially build an integrated acetic anhydride and Tricoya wood elements production plant in Malaysia.
The parties have agreed to evaluate the feasibility of jointly funding, designing, building and operating the plant. It is envisaged that Tricoya wood elements produced at the Plant would use acetic acid from PCG’s existing joint venture in Malaysia.
The plant would then supply the wood panel industry within South East Asia, under licence, as the key raw material for the formation of Tricoya panels for the use in the construction industry in the region.
Tricoya modified wood elements are currently being successfully used in the production of Medite Tricoya Extreme (MTX), a modified MDF panel, in the Republic of Ireland BY MEDITE SMARTPLY. Demand for MTX has grown as markets have responded to its durability and dimensional stability performance levels, including use in external applications. The
TTL and PCG plant evaluation in Malaysia is expected to include preliminary engineering studies, regional customer and market feasibility assessments and financing arrangements. Under the terms of the agreement, the parties have agreed to carry out the evaluation exclusively for a period of at least 18 months.
“This is an exciting and important step for Accsys, with the potential to open up new markets for Tricoya in Asia,” said Paul Clegg, chief executive of Accsys.
“We are really pleased to be exploring the expansion of our global manufacturing footprint with PCG, a major international chemical company, with such a strong Asian presence.”