Alexium International Group's key Asian/European distribution partner iTextiles, a major Asian/European distribution partner in Pakistan and a leading textile trading company in Pakistan, representing premium textile products from international companies like INVISTA, Dow Chemical, Kaneka Corp, and Rong Sheng, has received Alexium's fabric technology chemistry and is proceeding with scale-up runs with key manufacturing partners. Production runs are currently being scheduled to start as early as next week.
iTextiles as a major player in Pakistan textile industry has emerged as an ideal partner to introduce Alexium chemistry to many manufacturing partners and millions of yards of fabric across the globe. It has annual gross revenues in excess of $13 billion.
iTextiles was one of the first Asian companies to see the potential and value in Alexium's products. For them to receive Alexium chemistry at port so they can apply it to their partners' fabrics on their equipment is an exciting next step.
Alexium CEO Nicholas Clark said that they are all pleased that Alexium's chemistry made it in good order to port. The iTextiles relationship, when in full momentum will be a commercially and financially positive relationship for both parties.
Alexium holds proprietary patent applications for a process developed initially by the U.S. Department of Defense, which allows for the surface modification and attachment of nano-particles to surfaces to provide functions such as fire retardancy, water proofing, oil proofing, and anti-microbial treatments.
Applications under development include textiles, paints, and packaging, glass and building materials.
Most effective fire retardant coating chemistries are now banned or being withdrawn from the European and U.S. markets, but the market for these chemicals is likely to grow to $7 billion in 2017.
Alexium's fire retardant products however are not being withdrawn and are all in the development cycle with key multi-million dollar U.S. companies.
Besides assisting and co-developing the technology by providing market-driven feedback, the companies are also moving into the next stage of the development cycle. This is expected to result in purchase orders for drum quantities of its chemistry and could drive revenue growth in the near-term.
Continued co-development is also underway with various divisions of the Department of Defense on flame retardant solutions for military applications.
With further purchase orders expected and the production scale up with iTextiles, Alexium is poised for growth.
The company is also in the midst of over a dozen trial projects with potential customers that resulted from its attendance at North America’s only show dedicated solely to technical textiles.
Each project represents a $500,000 per annum average revenue opportunity with small sales quantities on all products already being booked for the upcoming quarter. While the sales process has taken longer than expected due to the clients’ requirements, larger revenues are coming in soon with potential for more.
Alexium’s core business is developing leading-edge chemical solutions and rapidly deploying them in the commercial sector. Headquartered in Perth, Western Australia it has operating locations in Australia, the United States, and Europe and is listed on the ASX and Frankfurt stock exchanges.
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