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Nexam: End of exclusivity with Armacell opens door for more business

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Nexam Chemical announces this morning that it has signed a collaboration agreement with DIAB regarding development of a unique high-performance PET-foam containing Nexam Chemical´s NEXAMITE®-technology. The mutual ambition for the collaboration, starting in 2016, is to sign a long-term supply agreement. DIAB is one of the five largest manufacturers of high-performance foam in the world.

We in DIAB, as a leading producer of high-performance foam, is pleased to establish this collaboration. Nexam Chemical´s technology, together with our solid expertise in foam production, creates opportunities for a new generation of foam on the, for us, very interesting market”, says DIABs CTO, Magdalena Sandström.

DIAB is a global company that develops, manufactures and sells core materials for composite structures, including pleasure boats, blades for wine turbines and components for aircraft, trains, industrial applications and buildings. Core materials – which has a unique combination of characteristics such as low weight, high strength, insulation properties and chemical resistance – are used for constructions in several different market segments.

The NEXAMITE®-technology is effective and delivers significant improvements to the properties of PET-foams. The growing market for PET-foams are an important area for Nexam Chemical, and with our technology there is opportunities to also improve other types of foam. We look forward to our collaboration with DIAB”, says Nexam Chemicals CEO Anders Spetz.

The collaboration agreement with DIAB becomes possible due to another news that is released this morning, the cancellation of the exclusivity agreement between Nexam and Armacell. In 2014, Nexam Chemical and Armacell signed an exclusivity agreement regarding products for PET foam. Due to longer development times, the agreed minimum volumes will not be fully met within the time limit. Nexam Chemical and Armacell therefore discontinue the current exclusivity agreement with a mutual ambition to replace it with a supply agreement.

Nexam Chemical´s products has proven to be effective and facilitate major property enhancements to the PET foam that we so far have produced in our facilities. Our PET foam containing Nexam Chemical´s product provides conditions for a new generation of PET foam on the market. Based on the results we have, and with the good collaboration with Nexam Chemical, we continue the work together with the ambition to sign a supply agreement”, says Armacells Global Business Director PET Core, Bart Janssen.

It is positive to see how our NEXAMITE® performance enhancers can make a vital difference in products with such market potential as PET foam. We look forward to continue our cooperation with Armacell”, says Nexam Chemicals CEO Anders Spetz.

We believe that Nexam’s management is rather happy that the exclusivity agreement with Armacell is now off the table. The agreement was signed by the former management and CEO Spetz has refocused Nexam during 2015, making “Foam of polyester” one of three focus areas. Interest for Nexam’s crosslinkers is reportedly high from many different parties and now Nexam is free to cooperate with more than just Armacell in the area of PET-foams. Today’s announcement of the cooperation with DIAB is a great start and we are positive that more such cooperations will follow.

Nordic Investor

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