Masisa, a panel producer in Latin America, has agreed to carry out evaluation of Tricoya including market testing, production testing and development of finished end-products with the launch of Masisa Tricoya® Super MDF.
Masisa Tricoya® Super MDF is an extremely durable, stable and sustainable wood-fibre based panel product with one of its key performance attributes guarantee against rot and decay with dimensional stability for 50 years when used externally.
TTL will now be extending the two year licence option agreement signed in April 2012 which, if successful, grants Masisa exclusive production and distribution rights for Tricoya® for the Latin American market - excluding Brazil, for which the sales and marketing rights are non-exclusive.
During the evaluation phase, the Tricoya product will be supplied by Medite Europe Ltd, TTL's joint development partner and licence holder for which a supply agreement has also been agreed.
Manufactured using Accsys Technologies' proprietary acetylation process, Medite Tricoya has enjoyed very positive feedback from customers resulting in a strong increase in demand. Medite Tricoya panels have already been used in a wide range of applications in the building and construction industry including façade claddings, exterior trim applications, exterior doors, interior wet areas and outside furniture.
Welcoming the news, Mr Clegg, Chairman of TTL and CEO of Accsys Technologies (AXS) comments: "Tricoya® Technology represents a major innovation in the wood panel industry which is pioneering a new generation of high performance and exterior use panel products. The agreement with Masisa, one of the world's leading MDF and particle board manufacturers, was initiated back in 2011/2012 and is set to significantly expand the global panel-products market estimated to be worth annually more than EUR 60 billion."
He added: "Our technology enables wood fibre panel products to be used in challenging exterior applications, creating completely new market opportunities for manufacturers operating in the 290 million m3 global wood based panel sector. It is already clear that Tricoya® based panels can compete with many higher cost, non-renewable construction materials currently used for exterior and wet environment applications."
Masisa SA has industrial facilities in Chile, Argentina, Brazil, Venezuela and Mexico as well as commercial operations in over 40 countries. Their main panel products are MDP (medium density particleboard), MDF (medium density fibreboard) and Melamine boards.
Tricoya® is the technology of wood chip acetylation licensed by Tricoya Technologies, a 50:50 joint venture between Ineos and Accsys Technologies PLC.