- Chemical technology group Accsys said its subsidiary Tricoya had entered into an agreement with Petronas Chemicals Group Berhad to explore the possibility for a new wood elements manufacturing plant in Malaysia.

The wood elements produced at the plant would use acetic acid from Petronas Chemicals Group's existing joint venture in Malaysia, Accsys said.

The plant would then supply the wood panel industry within South East Asia, under licence, as the key raw material for the formation of Tricoya panels, which would be used in the construction industry in the region.

Under the terms of the agreement, the parties both agreed to carry out the evaluation exclusively for a period of at least 18 months.

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