The company, which already has distribution agreements for the product across 45 countries has a contract in place with Belgian chemicals giant Solvay, giving it exclusive rights for a minimum 15-year period, renewable at agreed terms, to produce and sell Accoya within Europe (excluding Belgium, Ireland, Luxembourg, the Netherlands and the UK, which are reserved for Accsys’s own sales).

The licence agreement with Solvay grants the company the option to build Accoya production plants in Europe, with the first of these expected to be operational sometime in 2016. It will have an annual capacity of around 63,000m3.

"There is scope for Solvay to build additional plants in Europe further down the line," said an Accsys spokesperson.