Coillte, Accsys Technologies and BP will cooperate to develop Tricoya wood chip manufacturing plant in the UK
April 7, 2017 Editor's choice, Europe, Investments, News, Organisations, Associations, Federations, Timberland
Coillte announced an innovative partnership deal that will see Coillte’s MEDITE SMARTPLY division collaborate with Accsys Technologies and BP to develop the world’s first Tricoya wood chip manufacturing plant in Hull, UK.
The EUR 68 million project is expected to transform wood technology and allow the newly created consortium to commercialise the production of acetylated woodchip.
Breakthrough proprietary technology will be used to produce wood chips that are virtually unaffected when exposed to exterior or harsh interior environments. These wood chips will be used to produce MEDITE TRICOYA EXTREME (MTE) at Coillte’s MDF manufacturing plant (Medite) in Clonmel, Co. Tipperary in Ireland. Due to its unique innovative characteristics, MTE can be used in applications and environments never before deemed possible for this industry, including exterior joinery, doors, windows, façade and cladding.
Fergal Leamy, Chief Executive, Coillte, commented:
“We are delighted to be working with such high-quality international companies in this very exciting partnership. This innovation in wood technology is a potential game changer for wood product sales. Quite simply, we will now be able to sell our MDF products for outdoor use as well as for their traditional indoor uses, significantly increasing the production and sales of MEDITE TRICOYA EXTREME products in existing and new markets.”
The investment is seen as a strong strategic fit for the Coillte business with MEDITE SMARTPLY’s strategic vision to become the leading supplier of innovative, market led MDF and OSB products through product and brand differentiation, while maximising the value of Coillte’s overall fibre basket.
Earlier, the European Investment Bank provided EUR 90 million long-term loan to Coillte for the forestry related investment.
About the Accsys Group:
The group comprises the holding company (Accsys Technologies PLC) and four wholly-owned subsidiaries (Titan Wood Limited, Titan Wood B.V., Titan Wood Technology B.V. and Titan Wood Inc.), which operate under the guidance of a group management team.
Each Titan Wood subsidiary trades under the “Accsys” or “Accsys Technologies” name.
About Coillte:
The company is a state-owned forest enterprise based in Newtown Mount Kennedy, Ireland, and a commercial company operating in forestry, land-based businesses, renewable energy and panel products. It owns over 445,000 hectares of land, about 7% of the land cover of Ireland and harvests approximately 2.5 million cubic meters of timber annually, being the major supplier of raw material to the Irish wood products industry. Coillte employs approximately 1,000 people and was established in 1988.
Source: Woodbizforum