Corporate Vision February 2017

NEWS , Recycling Technolo- gies has announced new changes to its leadership board following a recent shareholder meeting. Howard Lack joins as the new Chairman bringing leadership experience within the commercial and finance sectors. Also joining the board is Geoffrey Phillips as Investor Di- rector. Geoffrey has extensive experience in the oil, gas and ma- rine sectors and has previously held a number of executive board appointments. Howard spent thirty-five years in the commercial and finance in- dustry holding prominent roles including Morgan Grenfell Bank as Director of the International Finance group before becoming the Director of Investment Bank- ing for the Chase Manhattan In- vestment Bank. More recently Howard has focussed on funding technology start-up companies and is a senior consultant with Turquoise, a London based mer- chant bank specialising in energy efficiency and the environment. Geoffrey has forty years of ex- perience at senior level in both finance and commerce sectors. He has also held a number of board appointments as execu- tive and non-executive director in public companies such as Fast- Ship Atlantic, Abbot Group and Henry Ansbacher and Co Ltd. Geoffrey also has relevant board experience in the waste industry through appointments in Led- wood Mechanical Engineering Ltd and D.V. Howells Ltd. Howard and Geoffrey’s invaluable commercial and finance experi- ence, along with their knowledge of industry markets, will prove extremely beneficial to Recy- cling Technologies as it further develops the business and the RT7000, a machine incorporat- ing a recycling chemical process which will be assembled on pro- duction lines then installed at Ma- terial Recovery Facilities [MRFs] around the world. Adrian Griffiths, CEO, Recycling Technologies comments: “We are thrilled that such high calibre executives are joining the board. Geoffrey has a wealth of expe- rience both in senior level pub- lic companies and in the waste industry. It is also a real honour to announce the appointment of Howard Lack as our new Chair- man. Howard’s extensive expe- Profitability and turn- over growth in the Thames Valley slowed in the second half of 2016, according to the latest Thames Valley Business Ba- rometer published today by account- ancy and business advisory firm BDO and PR and marketing agency C8 Consulting. Almost two thirds (67%) of compa- nies surveyed stated that profitability had either improved or stayed the same compared to 82% in the spring. A similar pattern was also observed in regard to turnover, with 71% re- porting that it had either increased or remained the same compared to 85% earlier in the year. The survey, which was conducted during a six-week period from Sep- tember to October 2016, revealed that just 48% of business leaders felt that general levels of economic confidence had either improved or remained the same in the last six months versus 70% earlier in the year (and 92% in autumn 2015), suggesting a drastic reduction in con- fidence which is now impacting on business performance with a drop in turnover, profit and pipeline. In this latest survey, headcount re- mained relatively stable although increases in headcount had slowed. 83% percent of respondents reported numbers either having increased or re- mained the same compared with 85% in June. Looking ahead to the next six months, the region’s business leaders expect this stability to continue. On the question of staff attrition, 70% of respondents said that their level of staff turnover had not changed. How- ever, 22% of businesses surveyed saw an increase in staff turnover in the second half of 2016. The latest Business Barometer also looked at the impact of the EU ref- erendum results among businesses in the Thames Valley. Of more than 150 businesses surveyed, only 2% said that nothing concerned them as a result of Brexit. The need for clari- ty about the rules of trading with EU countries (58%) and the investment by government in local infrastruc- ture (52%) came out as the two top concerns. Other matters of concern included: the impact of protracted un- certainty caused by the delay in leav- ing, the impact of clients cancelling or delaying their projects, the impact of changes to the exchange rate, and the impact on the ability to recruit and retain the best talent. Despite the concerns, however, three key opportunities were identified as having arisen as a result of Brexit: the fall in the value of the pound lead- ing to a boost for exporters, tourism and for inward investment, especial- ly from non EU countries; the ability for the UK to agree its own trade deals with countries outside the EU and, the ability to set our own rules and make the UK more attractive for business. More than 150 businesses across the Thames Valley took part in the Barometer survey. ActiveOps, BtL JSP, Magal Engineering and Teneo are also profiled in the report, shar- ing their perspectives on their own performance and the key challeng- es they face in the year ahead. The Local Enterprise Partnerships of Oxfordshire and Berkshire used the survey to find out what businesses in the region think about the decision to leave the EU. The results of the sur- vey have been analysed by the LEPs and are being fed back to various key government units. rience in commercial finance will bring insight that will undoubtedly help the business as we forge ahead with our plans for 2017 and beyond.” Howard Lack, Chairman, Recy- cling Technologies comments: “This is an important time for the company as we go forward into 2017. I am very excited to be part of this innovative organisation that is fast gaining recognition around the world. There is a tre- mendous opportunity to set our mark on the issues facing plastic waste and plastic in the ocean.” Geoffrey Phillips, Investor Direc- tor, Recycling Technologies com- ments: “I am delighted to be join- ing the board here at Recycling Technologies. This is a pivotal time in the company’s evolution as we seek to secure interest and further funding for the commer- cial RT7000 machine. Recycling Technologies’ objective is to con- tribute to the creation of a circular economy for plastics, which ulti- mately could dramatically reduce the negative impacts of plastic waste.” The potential for Recycling Tech- nologies’ to contribute towards tackling the problem of plastic waste is being recognised across the industry. Recycling Technol- ogies has been shortlisted for a number of awards and recently was specially selected to exhibit at leading trade show Innovate 2016. Recycling Technologies has also been included in an initi- ative called Unreasonable Impact – the first international network of accelerators focused on scaling up entrepreneurial solutions to pressing societal and environ- mental problems. Recycling Technologies is also involved in the New Plastic Econ- omy, an ambitious three-year ini- tiative driven by the Ellen MacAr- thur Foundation to tackle global plastics issues, and together with partners is working to create a more effective global system for plastics. This month Recycling Technologies supported the ac- tion plan, laid out in a new re- port, The New Plastics Economy: Catalysing Action, which was launched by the World Economic Forum and the Ellen MacArthur Foundation at Davos. The report presents a pathway to increasing global recycling rates for plastic packaging from just 14% today to 70%. Uncertainty in Market Impacts Confidence Amongst Thames Valley Businesses N