TIDMSYM
RNS Number : 8163N
Symphony Environmental Tech. PLC
26 May 2020
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony", the "Company" or "the Group")
Preliminary Results for the year ended 31 December 2019
Symphony Environmental Technologies Plc (AIM: SYM), a global
specialist in technologies to improve the properties of plastic and
some non-plastic products by making them biodegradable and/or
providing protection against threats to health and safety,
announces its preliminary results for the year ended 31 December
2019.
Financial highlights:
-- Group revenues GBP8.23 million (2018: GBP8.80 million)
-- Gross profit GBP3.78 million (2018: GBP4.13 million)
-- Reported loss before tax GBP0.70 million (2018: profit GBP0.04 million)
-- Basic loss per share 0.41p (2018: earnings per share 0.03p)
-- Cash used in operations GBP0.73 million (2018: GBP1.01 million)
-- Net current assets GBP2.85 million (2018: GBP1.71 million)
Business highlights:
-- Subscription completed for new shares raising GBP1.9 million (net)
-- Grupo Bimbo, the world's largest bakery, announces expansion
of its biodegradable packaging programme, and new packaging showing
Symphony's d2w brand
-- New and first significant order for d2w agricultural grade
-- Major launch of d2p "Protector" products in Bahrain
-- Awarded London Stock Exchange Green Economy Classification & Mark
Post year-end
-- Q1 2020 revenues increase by 53% to GBP2.45 million (Q1 2019: GBP1.60 million)
-- FDA approves Symphony's antibacterial packaging for bread; commercial trials ongoing
-- New European orders in May for d2p antimicrobial gloves exceeding GBP0.5 million
-- Increasing activity for other d2p additives and products
-- Single use plastic bans outside the EU being postponed or
overturned due to concern for people's safety and hygiene taking
priority
-- The Group has not been materially affected by COVID 19 and
accordingly has not needed to utilise any of the Government COVID
19 support packages
Chairman's Statement
We are at a time of unprecedented change. The current COVID 19
pandemic is likely to permanently alter human outlook and
consumption trends, further establishing the environmental, social
and governance ("ESG") concerns of key stakeholders of the vast
majority of organisations.
Symphony's proposition gathered further ESG momentum during 2019
by increasing key sales and public relations resources, as well as
further gaining international recognition by customers, governments
and other bodies, with the award of new contracts, approved
supplier accreditations and a Green Economy Classification and
Mark. These achievements were accompanied by a small reduction in
revenues during 2019, but that year in isolation does not capture
the momentum of the Group, as demonstrated by a 53% increase in
revenues during the first quarter of 2020 to GBP2.45m versus
GBP1.60m for the same period last year.
Symphony is at the forefront of the plastics debate in key
territories around the World and has established specialist teams
to interact with governments, NGO's, and corporates. Our
legislative activities are mainly country-specific, and we have
substantially invested in regional advisory and lobbying
professionals primarily in the Middle East and Latin America, which
are considering legislative changes towards biodegradable and
compostable products, thereby providing significant opportunities
for our range of d2w and d2c products .
In 2019, the world's largest bakery company, Grupo Bimbo,
publicly announced of its d2w biodegradable packaging programme
(originally launched in 2008), and for the first time their
packaging showed our d2w registered trademark. Their d2w
biodegradable packaging expansion process is ongoing.
In 2019, the three-stage regulation for making plastic packaging
in Saudi Arabia oxo-biodegradable continued to be enforced, but
with phases two and three for additional products having been
delayed from the original published timetable, with no date yet
been made public. The first stage, which is significant in itself,
and includes carrier bags and refuse sacks, is ongoing, and since
the start of 2020 some products have been brought forward from
later stages to this first stage. In addition, enforcement activity
has recently increased to ensure better compliance with stage
one.
Significantly, since the year end, the Company announced in
February that it had received USA FDA approval for its
antibacterial additive for plastic bread packaging. Several
customer trials and evaluations which were prohibited before FDA
approval have commenced following earlier successful small-scale
studies.
With public health and hygiene being an urgent issue, we are
seeing an increase in activity in our d2p anti-microbial
technologies and products. During May 2020, we received new orders
for d2p treated gloves totalling more than GBP500,000. As
previously announced, we have commissioned antiviral tests, which
include some members of the coronavirus family of viruses, and we
expect results by the end of June. We have not yet identified a
laboratory willing and able to test for COVID 19 itself, and we
continue to search.
The COVID 19 pandemic has so far had little negative impact on
the operations of the Group, and staff have adapted well to working
at home. We have seen minor cashflow and order delays in some
territories, but at present our main markets are generally stable
as our technology is mainly used in food packaging. In terms of
price, availability, hygiene and effectiveness, it is our view that
plastics are currently the ideal product for the protection of
people (through PPE) and the packaging of food and goods. d2w
improves flexible plastics making them biodegradable and reducing
their negative impact on the environment, and our d2p range
enhances plastics and rubber by including long-lasting
anti-microbial benefits.
Despite current global uncertainties, we are confident that our
technologies are well placed to benefit key concerns over hygiene
and the environment. Many countries around the world are starting
to ease their lockdowns, but we continue to make decisions which
aim to keep the Group in the best financial position possible
should there be any significant negative effects on revenue or
cashflow. Our staff are working effectively during these times, and
we have not needed to utilise any Government COVID 19 support
packages.
I would therefore like to thank the Board and our staff for all
their resilience and extremely hard and dedicated work to keep
Symphony in its strong position during these challenging times.
Further thanks also to our distributor network for all their hard
work and despite these uncertain times the Board remains optimistic
for the future.
N Clavel
Interim Chairman
Chief Executive's Review
Introduction
The Group continues at this pivotal period to see a
strengthening of its underlying business and key drivers. For our
d2p range of technologies, most of our earlier R&D developments
are now complete and the commercial sales process for many
different applications is ongoing in areas such as healthcare
products, antimicrobial gloves, and additives for use in drinking
and irrigation waterpipes. In addition, we have continued to
progress our many different d2p formulations for flame retardant
plastics, together with odour and ethylene adsorber masterbatches.
For d2w, the legislative position in some markets is showing
progress - such as in the Middle East and Latin America.
Legislative actions around the world to ban or restrict the use
of single use plastics, described in the press and in our earlier
announcements, created a positive opportunity for our global
representatives to engage at government level and in the media, so
as to be part of the debate. These activities continued throughout
2019 and are ongoing. COVID 19 has strengthened the global
requirement for single use plastic which is ideal for our d2w
technology. Multiple-use plastics are more problematic for hosting
and accumulating harmful microbes and there is an opportunity for
our d2p antimicrobial technology.
Grupo Bimbo's public d2w event on 20 August 2019 was significant
as they expand their programme of adopting more environmentally
friendly packaging and for the first time using our d2w logo on
their products.
During 2019, we continued to develop our d2w technology into
many new applications such as footwear, non-woven polypropylene for
use in PPE type products, and also for agricultural products, which
saw new commercial sales.
Our strategy continues to be to invest into the legislative
drivers for d2w type biodegradable technologies together with
further commercialising our developed d2p technologies within the
Group's existing operational framework.
Trading results
Group revenues decreased by 6.5% to GBP8.23 million from GBP8.80
million in 2018. Gross profit margins decreased slightly to 45.9%
(2018: 46.5%). As a result, the contribution from gross profit
decreased to GBP3.78 million from GBP4.13 million in 2018.
As announced on 17 December 2019, revenues for the full year
were affected by inventory adjustments by some of our customers
waiting for legislative clarification in certain markets. These
factors persisted during the year, as both business drivers,
legislation and enforcement activities regarding the manufacture of
plastics, remained in a fluid period of change.
Costs increased by 5.8% to GBP4.08 million (2018: GBP3.85
million) due to increased selling resource together with advisory
costs associated with legislative and regulatory situations as
described earlier. Staff costs also increased during the period in
the marketing and technical departments. The Group expensed R&D
costs of GBP0.63 million in 2019 (2018: GBP0.66 million). An
R&D tax credit of GBP27,000 (2018: GBP10,000) was confirmed
receivable as at the year-end relating to previous periods. A
further R&D tax credit will be receivable with respect to
2019.
The Group adopted IFRS 16 during 2019 which requires lessees to
account for leases 'on-balance sheet' by recognising a right-of-use
asset together with its respective lease liability. The value of
the recognised 'right-of-use asset' as at 1 January 2019 was
GBP0.76 million which related primarily to the Group's head office.
This new policy resulted in additional non-cash charges of
GBP37,000 made to the income statement for the year from
depreciation on the right-of-use asset and interest expense on
lease liabilities.
Adjusted EBITDA before R&D and the additional communication
and marketing costs is calculated as follows:
2019 2018
GBP'000 GBP'000
----------------------------- --------- ---------
Operating (loss)/profit (622) 64
Add: Depreciation (non
right-of-use) 76 81
Amortisation 17 16
R&D expenditure 627 664
Marketing, communication
and other brand protection
costs 331 357
----------------------------- --------- ---------
Adjusted EBITDA 429 1,182
----------------------------- --------- ---------
Reported operating loss was GBP0.62 million (2018: profit
GBP0.06 million) and loss after tax of GBP0.66 million (2018:
profit GBP0.05 million) with basic loss per share of 0.41 pence
(2018: earnings per share 0.03 pence).
The Group's primary selling currency is the US Dollar and
therefore a strong dollar against sterling, our reporting currency,
is beneficial for the Group. The Group self-hedges by purchasing
goods where possible in US Dollars and utilises bank forward
currency contract agreements to minimise exchange risk. As at 31
December 2019, the Group had a net balance of US Dollar assets (US
Dollar cash balances and receivables less overdrafts and payables)
totalling $1.90 million (2018: $1.10 million). To mitigate this the
Group had bank forward currency contracts to sell 1.25 million US
Dollars and receive a fixed amount of sterling as at 31 December
2019 (31 December 2018: nil US Dollars). The Group is experiencing
higher volatility in Sterling/US Dollar exchange rate as a result
of the uncertainties currently surrounding Brexit.
Balance sheet and cash flow
The Group had net cash of GBP0.88 million at 31 December 2019
(2018: net debt of GBP0.08 million). The Group used cash of GBP0.73
million from operations (2018: cash used of GBP1.01 million)
primarily as a result of the operating loss for the period.
During the year the Group raised net GBP1.9 million by way of a
share subscription. The Group also has a GBP1.5 million invoice
finance facility with HSBC Bank which was not drawn down as at 31
December 2019 (2018: GBP0.45 million).
As a result of the share subscription, net current assets
increased to GBP2.85 million at 31 December 2019 (2018: GBP1.71
million).
Brexit
The Board has considered the possible effects of Brexit on the
business, and at the current time believe that Brexit will not have
a material impact on the operations, financial performance or
future prospects of the Group. The principal reasons for this are
the Group's global operations, and the fact that 88.7% of the
Group's revenues were generated outside the EU mainland in 2019
(2018: 85.4%). However, the Board continues to monitor the Group's
operations in the UK and Europe in light of potential challenges
arising from Brexit and the current political and economic
uncertainties.
COVID 19
COVID 19 is causing general uncertainty which may affect several
markets in which Symphony operates. These may have a disruptive
impact on operations (customer or supplier disruption) or may
negatively affect the Group's finances (customer bad debt or
ability of customer or suppliers to carry on trade trading). The
Group uses multiple supply sources and continues in the main to
credit insure receivables or do business on a letter of credit or
proforma basis. So far, the effects to Group operations and
finances have been minimal.
The Group's products and markets are not negatively affected by
the pandemic and on the contrary could strengthen as plastics are
integral in food and human protection. The Group has modelled
several downside scenarios and the Board is comfortable that the
Group's balance sheet and working capital is sufficient to
withstand such significant falls in revenue.
Current trading and outlook
As announced on 6 April 2020, the new trading year has started
strongly, with revenues for the first quarter ended 31 March 2020
increasing by 53% to GBP2.45 million compared with GBP1.60 million
for the first quarter of 2019.
The Group's cash and cash availability as at 21 May 2020 was
more than GBP1.0 million. The Group does not expect to require any
additional cash in the next twelve months and the Board considers
the Group to be in a strong financial position to enable it to
maximise the opportunities available within the markets it is in,
and with its d2w, d2p and d2c developed and developing product
range.
d2w Oxo-biodegradable plastic technology
It is our belief that there is a strong global outlook for d2w
technology underpinned by regulatory, legislative and market forces
in many of the 70 plus markets in which we are active. In addition,
and as a result of the current COVID 19 pandemic, we have seen
several plastic bag bans either suspended or overturned.
This is no longer just a Symphony fight, as the plastic industry
are trying to avoid closure by the global drive to move away from
plastics to other materials or nothing. Because of this, we are
collaborating with the industry in several countries to avoid a ban
by using d2w technology which can help resolve the pressing issue
of plastic pollution, and in particular, microplastics.
The debate on the use of plastics might have hit an inflection
point as COVID 19 brought forth fears that reusable shopping bags
are used at the expense of optimal hygienic behaviour. In the
United States, states including California, New York, and
Massachusetts, which spearheaded the campaign against single-use
plastic bags, are now pivoting towards promoting their use by
either suspending or postponing the bans. Countries across the
world have had a similar response by either suspending bans or
removing tariffs required to buy plastic bags online. Similarly,
the United Kingdom postponed its ban on the use of single-use
plastic straws in the restaurant industry.
With recycling efforts being stifled and most of the plastic
waste ending up in landfills, oxo-biodegradable plastic continues
to provide a timely solution to sustainable plastic consumption and
a solution to the issue of plastic litter pollution on land and
oceans.
d2p Antimicrobial range of technologies
Demand for plastic materials (such as PPE and food packaging)
containing antimicrobial properties is also expected to increase.
As announced on 6 April 2020 we have commissioned a laboratory to
conduct antiviral tests on our d2p antimicrobial technology and
anticipate that if we get a satisfactory result, this will
significantly accelerate interest in this technology. We anticipate
updating the market by the end of June.
Since the year-end, the U.S. Food & Drugs Administration
(FDA) has approved Symphony's d2p antibacterial technology for use
in certain polyethylene film for wrapping bread. Approval, which is
not time limited and is effective only for Symphony, was given
under the Food Contact Notification procedure. We are progressing
this commercially despite some minor delays caused by COVID 19.
The Group's 25-year investment into a growing, but synergistic
range of products, is well suited to today's global demand for low
cost technologies and products that are non-disruptive and that can
help protect human health and the environment. It is encouraging to
see new European orders recently placed for d2p treated gloves of
more than GBP500,000, together with increased global enquiries for
other d2p products.
The current situation due to COVID 19 is unprecedented and the
overall economic impact is currently unknown. The Board is
encouraged by the resilience shown by the Group's systems and
technologies to date, and the opportunities for our range of
technologies. We look to the future with confidence, although the
financial year ending 31 December 2020 cannot as yet be fully
assessed. Accordingly, the Board believes it would be inappropriate
to provide forward-looking financial guidance to investors and
analysts at this time.
M Laurier
Chief Executive
Enquiries
Symphony Environmental Technologies Plc
Michael Laurier, CEO Tel: +44 (0) 20 8207
5900
Ian Bristow, CFO
www.symphonyenvironmental.com
Cantor Fitzgerald Europe (Nominated Adviser
and Joint Broker)
David Foreman, Michael Boot (Corporate Tel: +44 (0) 20 7894
Finance) 7000
Caspar Shand Kydd, Maisie Atkinson (Sales)
Hybridan LLP (Joint Broker)
Claire Louise Noyce Tel: +44 (0) 203
764 2341
The person responsible for arranging the release of this
information is Michael Laurier, CEO of the Company.
Consolidated statement of comprehensive income
for the year ended 31 December 2019
2019 2018
Note GBP'000 GBP'000
----------------------------------- ----- -------- --------
Revenue 8,225 8,802
Cost of sales (4,450) (4,676)
Gross profit 3,775 4,126
Distribution costs (321) (210)
Administrative expenses (4,077) (3,852)
Operating (loss)/profit (622) 64
Finance costs (75) (26)
(Loss)/profit for the year
before tax (697) 38
Taxation 37 10
(Loss)/profit for the year (660) 48
----------------------------------- ----- -------- --------
Total comprehensive (loss)/income
for the year (660) 48
----------------------------------- ----- -------- --------
Basic earnings per share 2 (0.41)p 0.03p
Diluted earnings per share 2 (0.41)p 0.03p
----------------------------------- ----- -------- --------
Consolidated statement of financial position
as at 31 December 2019
2019 2018
GBP'000 GBP'000
-------------------------------------- -------- --------
ASSETS
Non-current
Property, plant and equipment 218 254
Right-of-use assets 637 -
Intangible assets 42 34
897 288
Current
Inventories 882 623
Trade and other receivables 2,335 2,228
Cash and cash equivalents 1,161 374
4,378 3,225
Total assets 5,275 3,513
--------------------------------------- -------- --------
EQUITY AND LIABILITIES
Equity
Equity attributable to shareholders
of
Symphony Environmental Technologies
plc
Ordinary shares 1,700 1,543
Share premium 2,077 333
Retained earnings (537) 123
Total equity 3,240 1,999
--------------------------------------- -------- --------
Liabilities
Non-current
Lease liabilities 509 -
-------------------------------------- -------- --------
Current
Lease liabilities 122 -
Borrowings 283 454
Trade and other payables 1,121 1,060
1,526 1,514
-------------------------------------- -------- --------
Total liabilities 2,035 1,514
--------------------------------------- -------- --------
Total equity and liabilities 5,275 3,513
--------------------------------------- -------- --------
Consolidated statement of changes in equity
for the year ended 31 December 2019
Equity attributable to the equity holders of Symphony
Environmental Technologies plc:
Share Share Retained Total
capital premium earnings equity
GBP'000 GBP'000 GBP'000 GBP'000
-------------------------- --------- --------- ---------- --------
For the year to 31
December 2019
Balance at 1 January
2019 1,543 333 123 1,999
Issue of share capital 157 1,744 - 1,901
Transactions with
owners 157 1,744 - 1,901
-------------------------- --------- --------- ---------- --------
Total comprehensive
income for the year - - (660) (660)
-------------------------- --------- --------- ---------- --------
Balance at 31 December
2019 1,700 2,077 (537) 3,240
-------------------------- --------- --------- ---------- --------
For the year to 31
December 2018
Balance at 1 January
2018 1,516 - 67 1,583
Issue of share capital 27 333 - 360
Share-based payments - - 8 8
-------- ------ ------ --------
Transactions with
owners 27 333 8 368
-------------------------- -------- ------ ------ --------
Total comprehensive
income for the year - - 48 48
-------------------------- -------- ------ ------ --------
Balance at 31 December
2018 1,543 333 123 1,999
-------------------------- -------- ------ ------ --------
Consolidated cash flow statement
for the year ended 31 December 2019
2019 2018
GBP'000 GBP'000
------------------------------------------- -------- --------
Cash flows from operating activities
(Loss)/profit after tax (660) 48
Adjustments for:
Depreciation 200 81
Amortisation 17 16
(Profit)/loss on disposal of
tangible assets (15) 1
Share-based payments - 8
Foreign exchange 42 (8)
Interest expense 75 26
Tax credit (37) (10)
Changes in working capital:
Movement in inventories (259) (55)
Movement in trade and other receivables (164) (1,223)
Movement in trade and other payables 76 111
-------------------------------------------- -------- --------
Net cash used in operations (725) (1,005)
R&D tax credit 37 10
-------------------------------------------- -------- --------
Net cash used in operating activities (688) (995)
Cash flows from investing activities
Additions to property, plant and
equipment (50) (45)
Additions to intangible assets (25) (3)
Proceeds from sale of property,
plant and equipment 27 -
------------------------------------------- -------- --------
Net cash used in investing activities (48) (48)
Cash flows from financing activities
Movement in working capital facility (454) 454
Repayment of lease capital (132) (2)
Proceeds from share issue 1,901 360
Lease interest paid (32) -
Bank and invoice finance interest
paid (43) (26)
-------------------------------------------- -------- --------
Net cash generated in financing
activities 1,240 786
Net change in cash and cash equivalents 504 (257)
Cash and cash equivalents, beginning
of year 374 631
Cash and cash equivalents, end
of year 878 374
-------------------------------------------- -------- --------
Represented by:
Cash and cash equivalents 1,161 374
Bank overdraft (283) -
------------------------------------------- -------- --------
878 374
------------------------------------------- -------- --------
Notes to the Preliminary Statements
1 Basis of preparation
This preliminary statement has been prepared on the basis of
accounting policies consistent with the audited financial
statements for the year ended 31 December 2019.
The financial information set out in this report does not
constitute the Company's statutory accounts for the years ended 31
December 2019 or 2018 but is derived from the 2019 accounts.
Statutory accounts for 2018 have been delivered to the Registrar of
Companies and those for 2019 will be delivered in due course. The
auditor has reported on the financial statements for the year ended
31 December 2019; its report was (i) unqualified, (ii) did not
include a reference to any matters to which the auditor drew
attention by way of emphasis without qualifying the report and
(iii) did not contain a statement under section 498(2) or section
498(3) of the Companies Act 2006.
2 Earnings per share and dividends
The calculation of basic earnings per share is based on the
(loss)/profit attributable to ordinary shareholders divided by the
weighted average number of shares in issue during the year. The
calculation of diluted earnings per share is based on the basic
earnings per share, adjusted to allow for the issue of shares on
the assumed conversion of all dilutive options and warrants.
Reconciliations of the profit and weighted average numbers of
shares used in the calculations are set out below:
Basic and diluted 2019 2018
--------------------------------- --------------- --------------
(Loss)/profit attributable GBP(660,000) GBP48,000
to equity holders of the
Company
--------------------------------- --------------- --------------
Weighted average number of
ordinary shares in issue 160,085,762 152,877,898
--------------------------------- --------------- --------------
Basic earnings per share (0.41) pence 0.03 pence
--------------------------------- --------------- --------------
Dilutive effect of weighted
average options and warrants 5,338,811 9,585,716
Total of weighted average
shares together with dilutive
effect of weighted options-
see below 160,085,762 162,463,614
--------------------------------- --------------- --------------
Diluted earnings per share (0.41) pence 0.03 pence
--------------------------------- --------------- --------------
No dividends were paid for the year ended 31 December 2019
(2018: GBPnil).
The effect of options and warrants for the year ended 31
December 2019 are anti-dilutive.
A total of 24,826,500 options and warrants were outstanding at
the end of the year which may become dilutive in future years.
3 Segmental reporting
The Board has reviewed the requirements of IFRS 8 "Operating
Segments", including consideration of what results and information
the Board reviews regularly to assess performance and allocate
resources, and concluded that all revenue falls under a single
business segment. The Directors consider the business does not have
separate divisional segments as defined under IFRS 8. The Board
assesses the commercial performance of the business based upon a
single set of revenues, margins, operating costs and assets.
The revenues of the Group are divided in the following
geographical areas:
Geographical area 2019 2018
GBP'000 GBP'000
UK 315 417
Europe 930 1,281
Americas 3,254 3,414
Middle East and Africa 2,480 2,472
Asia 1,246 1,218
------------------------- --------- ---------
Total 8,225 8,802
------------------------- --------- ---------
Revenues attributable to the above geographical areas are made
on the basis of final destination of the customer to which the
goods are sold.
4 Availability of report and accounts
The Company will advise when copies of the Annual Report and
Accounts will be sent to shareholders and be available from the
Company's website www.symphonyenvironmental.com
NOTES TO EDITORS:
About Symphony Environmental Technologies plc
www.symphonyenvironmental.com
Symphony has developed a range of additives, concentrates and
master-batches marketed under its d2p(R) ("designed to protect")
trademark, which can be incorporated in a wide variety of plastic
and non-plastic products so as to provide protection against many
different types of microbes, and insects and rodents, and against
fire. d2p products also include odour, moisture and ethylene
adsorbers as well as other types of food-preserving technologies.
Symphony has also launched d2p antimicrobial household gloves and
toothbrushes and is developing a range of other d2p finished
products for retail sale. See www.d2p.net
Symphony has developed and continues to develop, a biodegradable
plastic technology which helps tackle the problem of microplastics
by turning ordinary plastic at the end of its service-life into
biodegradable materials. It is then no longer a plastic and can be
bioassimilated in the open environment in a similar way to a leaf.
The technology is branded d2w(R) and appears as a droplet logo on
many thousands of tonnes of plastic packaging and other plastic
products around the world. In some countries, most recently Saudi
Arabia, oxo-biodegradable plastic is mandatory. See www.d2w.net
The Group has complemented its d2w biodegradable product range
with d2c "compostable resins and products" that have been tested to
US and EU composting standards.
Symphony has also developed the d2Detector(R), a portable device
which analyses plastics and detects counterfeit products. This is
useful to government officials tasked with enforcing legislation,
and Symphony's d2t tagging and tracer technology is available for
further security.
Symphony has a diverse and growing customer-base and has
established itself as an international business with 74
distributors around the world. Products made with Symphony's
plastic technologies are now available in nearly 100 countries and
in many different product applications. Symphony itself is
accredited to ISO9001 and ISO14001.
Symphony is a member of The OPA (www.biodeg.org) and actively
participates in the Committee work of the British Standards
Institute (BSI), the American Standards Organisation (ASTM), the
European Standards Organisation (CEN), and the International
Standards Organisation (ISO).
Further information on the Group can be found at
www.symphonyenvironmental.com and twitter @SymphonyEnv See also
Symphony on Instagram. A Symphony App is available for downloading
to smartphones.
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contact rns@lseg.com or visit www.rns.com.
END
FR ATMBTMTATTRM
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