Accsys announced that it 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. Under the terms of the Termination Agreement, payments to Accsys include fees of €3.2 million, to be applied to and set-off against the loan from Cerdia agreed in 2015, which currently amounts to approximately €8.6 million. As a result, Accsys' net debt will be reduced and the Cerdia loan will remain in effect until maturity in 2025. Accsys is now liaising with European Accoya® customers and other stakeholders to ensure a smooth transition of direct Accoya® sales and marketing relationships from Cerdia, effective from 1 April 2020. With Accoya® demand continuing to exceed capacity, the Termination Agreement reflects Accsys' strategic plans to increase its own global manufacturing capacity and distribution network, with further expansion at its Accoya® production facility in Arnhem now in the advanced stages of planning, and discussions progressing with Eastman Chemical Company in relation to a potential new Accoya® plant in North America. The Termination Agreement also follows Cerdia's own renewed focus on its core chemicals businesses following its sale by Solvay to Blackstone in 2017. Accsys looks forward to continuing to work with Cerdia both during this period of transition and thereafter, exploring with Cerdia other areas of potential cooperation. Accsys confirms that trading is in-line with the Board's expectations and no changes are being made to the Board's expectations for the full year.