Business

Symphony Environmental Technologies, the producer of biodegradable additives for plastic packaging, has recorded a 37% sales growth in the first six months of the year.

Symphony produces an oxy-biodegradable additive, d2w, which is added to plastics during the manufacturing process making them degrade completely within six months.

In a trading statement, the Hertfordshire-based firm said sales for d2w for the first half of the year were £2.1m, an increase of 73%, while total revenues of £2.3m represented a 37% growth on the same period last year.

In May, Symphony signed a 15-year agreement with plastic bag producer Fujairah Plastics Group in the United Arab Emirates and with Albany Bakeries in South Africa for its d2w oxo-degradable technology.

It has also been working with Inditex, the owner of Zara clothes stores, and has increased its distribution network fivefold to 37 since the beginning of 2007.

Interim results for the first half of 2008 are due to be published on 16 September.