Accsys announced that it has terminated its Accoya license agreement with Diamond Wood China Limited. Accsys entered a license agreement with Diamond Wood in 2007 which was subsequently amended and superseded on various occasions, the last being in August 2010. Under the terms of the license agreement, the company was granted exclusive rights to construct and then run an Accoya acetylation plant in China and parts of South East Asia.

However, the company has failed to make progress in this respect despite the significant amount of support and work carried out by Accsys since 2007. Following legal advice, notice of termination of the license agreement has been served by Accsys, in accordance with Accsys' contractual and legal rights, as a result of Diamond Wood's failure to comply with its contractual obligations.