{"id":6580,"date":"2021-08-23T07:04:26","date_gmt":"2021-08-23T06:04:26","guid":{"rendered":"https:\/\/www.accsysplc.com\/tricoya-plant-construction-update\/"},"modified":"2021-08-23T07:04:26","modified_gmt":"2021-08-23T06:04:26","slug":"tricoya-plant-construction-update","status":"publish","type":"post","link":"https:\/\/www.accsysplc.com\/nl\/tricoya-plant-construction-update\/","title":{"rendered":"Tricoya\u00ae plant construction update"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/wp-accsys-2025.s3.eu-west-2.amazonaws.com\/media\/2021\/08\/Tricoya-panel-1024x683.jpg\" alt=\"\" class=\"wp-image-4329\" width=\"512\" height=\"342\" srcset=\"https:\/\/wp-accsys-2025.s3.eu-west-2.amazonaws.com\/media\/2021\/08\/Tricoya-panel-1024x683.jpg 1024w, https:\/\/wp-accsys-2025.s3.eu-west-2.amazonaws.com\/media\/2021\/08\/Tricoya-panel-300x200.jpg 300w, https:\/\/wp-accsys-2025.s3.eu-west-2.amazonaws.com\/media\/2021\/08\/Tricoya-panel-768x512.jpg 768w, https:\/\/wp-accsys-2025.s3.eu-west-2.amazonaws.com\/media\/2021\/08\/Tricoya-panel-450x300.jpg 450w, https:\/\/wp-accsys-2025.s3.eu-west-2.amazonaws.com\/media\/2021\/08\/Tricoya-panel.jpg 1200w\" sizes=\"auto, (max-width: 512px) 100vw, 512px\" \/><\/figure><\/div>\n\n\n\n<p>Accsys, the fast-growing and\neco-friendly company that combines chemistry and technology to create high\nperformance, sustainable wood building products, today announces an update\nregarding the final stages of construction towards commercial operation of the\nnew Tricoya<sup>\u00ae<\/sup> plant in Hull, UK, by Tricoya UK Limited (\u2018Tricoya UK\u2019),\nAccsys\u2019 joint venture in relation to the Hull plant.<\/p>\n\n\n\n<p>In June 2021\nAccsys announced that it had taken over the project to complete the final\nstages of plant construction and was evaluating the most effective ways to do this, optimising\nthe associated impacts on costs and timelines. &nbsp;<\/p>\n\n\n\n<p>Following an extensive\ngap analysis to review and validate the remaining works, costs, timeline and\npeople required to complete the project, Accsys is now able to provide an\nupdated outlook for the completion of the project: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The plant is anticipated to be commercially operational by July 2022.Work is ongoing to potentially accelerate achievement of this milestone. <br><ul><li>The remaining final stages of the works are being directly project managed by Tricoya UK with highly-experienced internal and recently-added people and resources, without requiring the appointment of another lead EPC contractor. Third-party expertise and support will be brought in as and when required to complete works safely and quickly.<br><\/li><\/ul><ul><li>Various workstreams have safely re-commenced on the site with a significant increase in our own project team, changes to project governance, and the engagement and remobilisation of key mechanical, electrical and civil contractors. <br><\/li><\/ul><\/li><li>Demand from the large addressable market for Tricoya<sup>\u00ae<\/sup> continues to be strong, as seen in the buoyant sales previously reported. We continue to expect that, once operational, the plant\u2019s production will ramp-up to full capacity over approximately three years. <br><\/li><li>Following the purported termination of the EPC contract in June 2021 by Tricoya UK\u2019s former EPC contractor, Engie Fabricom UK Limited (\u2018EFAB\u2019), a Settlement Agreement has been entered into between Tricoya UK and EFAB. Subject to the terms of this agreement, the parties have agreed to settle and release each other from liability for claims against each other under the EPC contract, including any claims in respect of COVID-19 and outstanding contractual payments.\u00a0<br> <\/li><li>The total project capital cost is expected to be an additional \u20ac9m to \u20ac15m more than previously anticipated.\u00a0 The additional costs are largely due to the extended project duration, including the previously-reported engineering changes, delays due to COVID-19, and time and recovery actions resulting from past management of and demobilisation from the site.\u00a0 The costs also reflect the settlement agreement with EFAB. As a result, the total cumulative project capital cost for the plant is now anticipated to be \u20ac90m to \u20ac96m. <br><\/li><li>Accsys remains committed to the safe completion and operation of the plant \u00a0to realise the potential of the Tricoya<sup>\u00ae<\/sup> product\u2019s target 40% gross margin, large market opportunity, and ongoing high demand.\u00a0 \u00a0<\/li><\/ul>\n\n\n\n<div class=\"wp-block-button is-style-squared\"><a class=\"wp-block-button__link\" href=\"https:\/\/wp-accsys-2025.s3.eu-west-2.amazonaws.com\/media\/2021\/08\/20210823-AXS-Tricoya-plant-construction-update.pdf\">View the Regulatory News release<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Following an extensive gap analysis to review and validate the remaining works, costs, timeline and people required to complete the project, Accsys is now able to provide an updated outlook for the completion of Tricoya\u00ae plant&#8230;<\/p>\n","protected":false},"author":34,"featured_media":931,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23],"tags":[],"class_list":["post-6580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-geen-onderdeel-van-een-categorie"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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