Accsys acquires Lignia assets29 July 2021
Accsys, producer of Accoya wood and Tricoya wood elements, is investing in increasing its Accoya Color production capability by acquiring €1.2m of assets and equipment from former UK-based modified wood producer Lignia Wood Company Ltd and its administrators, ReSolve. Lignia was put into administration on April 20.
The equipment and resources will enable Accsys to accelerate growth of its premium Accoya Color product: Accoya that is coloured through from surface to core. Launched in just two European markets so far, Accoya Color Gray decking has been met with a very positive reaction and high demand in excess of supply.
Benefitting from added expertise with former Lignia team members joining the business, Accsys will repurpose the acquired equipment in Barry, Wales, to convert Accoya wood into Accoya Color. This will allow a much more rapid growth in production and availability ahead of launching into more geographic markets and applications, planned for next year. Accsys does not intend to continue with the production of Lignia products.
Lignia began commercial production and sales in 2019 and built momentum from the onset. However, sales were impacted due to the Covid-19 pandemic and the company did not secure the necessary funds to continue to develop and grow its product offering to take advantage of the global modified wood market.