Sustainable building materials maker Accsys has officially launched its first operation in the United States in a move it hopes will help it to deliver its “ambitious” production targets, it said today.
The London-listed firm, which is headquartered in the city, said its US arm was now up and running, with its newly constructed plant in Kingsport Tennessee fully operational.
Accsys joint-owns the facility with Eastman Chemical Company, a Tennessee-headquartered producer of coatings, adhesives and speciality plastics products.
The London firm also released its trading results for the first quarter of its 2025 financial year, hailing a three per cent rise in revenues year on year to €35.9m (£30.2m).
Accsys said it had seen robust growth in its North American division – its largest area for expansion – driven by rising demand for its products. The group said it was also performing well in key European markets, including the UK, France, and Benelux.
Dr. Jelena Arsic van Os, chief executive of Accsys, said: “I’m delighted that we are commercially operational at our Kingsport facility, fulfilling our earlier set goals.
“We have successfully established a local presence for our North American customers.
“This significant international expansion marks a major milestone for Accsys and Accoya USA.
“With this proximity, we can efficiently serve the largest and most attractive wood market in the world with Accoya, the most durable and stable wood in the marketplace.
“This achievement is a crucial step forward for our company. Furthermore, Q1 trading performance has been solid, continuing momentum from Q4 of our last financial year.
“This trend has continued into Q2 and our order book is healthy across our markets.”
In July this year Accsys reported a drop in revenue during its 2024 full year, blaming “recessionary forces” for the slump.
The company saw its revenue drop by 16 per cent from €162m (£136.7m) to €136.2m (£114.7m) in the year ended 31 March 2024.
Gross profit also fell, with the Anglo-Dutch wood retailer making €40.9m (£34.51m) in the reporting period, compared with €55.2m (£46.3) in the previous year; a fall of 26 per cent.