Accsys has entered into an agreement with Cerdia Produktions GmbH (“Cerdia”), under which Accsys will take on responsibility for commercial activities under agreements with Cerdia relating to Accoya® wood, which will terminate on 1 April 2020 (the “Termination Agreement”).
The original agreements, being a licence agreement entered into in 2012, alongside supporting sales and marketing, offtake and exclusivity agreements entered into in 2015, allowed for early termination in certain circumstances in November 2020, with the offtake agreement originally due to expire in December 2020.
In bringing forward termination to 1 April 2020, Accsys will be able to sell Accoya® directly into central Europe and Scandinavia approximately 9 months earlier than previously provided for.