Stanelco PLC (LSE:SEO) and SP Metal are pleased to announce the appointment of Rothschild to conduct the sale of the biodegradable starch-based cigarette filter technology acquired through their joint venture Biotec Holdings GmbH (“Biotec”).
This follows an announcement made by the Company on 3rd October 2005 regarding the planned disposal of two non-core Biotec patents for biodegradable starch-based cigarette filters. The technology covered by these patents is not considered to be core to Stanelco’s business.
Howard White, Managing Director of Stanelco, commented, “We are delighted to have appointed Rothschild for the sales process. While we acknowledge that this is likely to be an extended process, we believe that ultimately the associated patents will yield substantial value to our shareholders.
“We are delighted that Rothschild are involved in this project. In light of the recent announcement by BAT in regards to having created a “safer cigarette,” Stanelco is in the perfect position with our biodegradable materials to lead the charge into the future of the industry. Our range of materials is ecologically friendly and less expensive than the material being utilized now.”
“Our product has all the advantages the cigarette industry is looking for including being ecologically friendly and less expensive than currently used celluloid filters,” said Stephanie Morgan-Fisher, director and CEO of North American Operations, Stanelco, Inc. “Stanelco endeavors to use our technology to benefit consumers and corporations looking for ecologically friendly solutions.”
(Cf. news of Oct. 13, 2005.)
Source: Business Wire Nov. 11, 2005.