Accsys, producer of Accoya® wood and Tricoya® wood elements, is investing in increasing its Accoya® Color production capability by acquiring €1.2m of assets and equipment from former UK-based modified wood producer Lignia Wood Company Limited and its administrators.
The equipment and resources will enable Accsys to accelerate growth of its premium Accoya® Color product: Accoya® that is coloured through from surface to core. Launched in just two European markets so far, Accoya® Color Gray decking has been met with a very positive reaction and high demand in excess of supply.
Benefitting from added expertise with former Lignia team members joining the business, Accsys will repurpose the acquired equipment in Barry, Wales, to convert Accoya® wood into Accoya® Color. This will allow a much more rapid growth in production and availability ahead of launching into more geographic markets and applications, planned for next year. Accsys does not intend to continue with the production of Lignia products.
Rob Harris, Accsys CEO, said:
“We are pleased to announce the purchase of these assets, which will enable us to meet the strong demand for our fast-growing Accoya® Color product. Since launching Accoya® Color in the DACH region in Europe last year, we have seen very strong demand from our customers and are looking forward to increasing its availability as a high value, highly desirable product.
Onsite due diligence confirmed that these assets can be converted to provide cost-effective near-term expansion for Accoya® Color production. This is expected to allow us to accelerate our plans to grow Accoya® Color both in its current markets and into more markets as part of our ongoing global growth strategy.“