News

Proposed JV between SPDG Technologies and Quartet Global Ltd

19 December 2006

Mr Michael Cunningham OBE, Chief Executive Officer of SPDG Technologies Plc (Plus Markets: SPDG) announced today, that the Company has entered into negotiations to joint venture the operations of Idroplax Spa its wholly owned subsidiary in Italy. It is expected that the new JV partner, Quartet Global Ltd, will provide finance for capital development, hands-on management and open new markets for the company in Europe and overseas. The proposed joint venture should ensure that Idroplax will be well placed to take advantage of the current market interest in the bio-degradable plastic sector. The Company expects to release details of the joint venture before the end of the year.

Michael Cunningham expressed his enthusiasm for the joint venture, "This new partnership will when implemented enable us to bring our biodegradable material technology to the global marketplace at a much faster rate than we could have otherwise achieved. We should see positive benefits from the new relationship as early as 2007."

Idroplax Srl is the wholly owned subsidiary of SPDG Technologies Plc, based in Altopascio, in Tuscany, Italy. It was acquired in September 2005 as an important step in the group's strategy for acquiring innovative technologies capable of producing eco-compatible materials in line with EU environmental directives. Idroplax specialises in the development, production and sale of a range of bio-degradable, environmentally friendly products for packaging, medical and industrial applications. For further information, please visit www.idroplax.com.

SPDG Technologies Plc is a leading developer of new and alternative technologies which are fully sustainable, environmentally sound and financially viable. With operations in the UK, Italy, Spain, South Africa and Australia, SPDG Technologies is currently focussed on developing solutions based on its portfolio of technologies that includes natural fibre composites, biodegradable plastics and the extraction of natural compounds from biomass.