Alexium completes License Deal with Duro for FR Nylon Treatment in North America
• Alexium closes commercial deal with Duro Textiles, one of the United States’ largest finishers and distributors of textile products, to license its environmentally friendly, bromine and halogen free, Flame Retardant (FR) Nylon Treatment.
• The signed agreement includes an upfront license fee, development cost sharing, machine sale, milestone payments, and royalties based on product sales with minimum quantities.
• Both parties will be working together on commercial and technical roll-out, establishing manufacturing capacity, and supplying customers over the coming ten months with a view to a rapid roll out.
• Duro and Alexium are targeting a North American current market opportunity in excess of 4 million linear yards of nylon. This market is expected to grow as applications for FR Nylon broaden into other FR markets.
• Alexium in discussions with potential licensees in other territories; plans to extend FR treatments to other applications and markets.
Perth, WA and Greer, South Carolina, Alexium International Group Limited (Alexium) (ASX:AJX, AX:AJX, OTC QX:AXXIY) announced today it has closed the commercial agreement with Duro Textiles, LLC. Duro is making a substantial investment under an exclusive operating license agreement, which will allow Duro to apply Alexium’s novel, environmentally friendly, bromine and halogen free, flame retardant (FR) treatment for commercial and military customers in North America. The agreement will result in an immediate financial boost to Alexium while preserving the company’s ability to license the technology to partners in all other territories.
According to Ed Ricci, Managing Director of Patriarch Partners’ Textile Platform and CEO of Duro Textiles, LLC: “We are extremely excited that Duro will have an exclusive license for a durable FR technology on nylon. The Alexium product will allow Duro to make products containing at least 95% nylon fire retardant without jeopardizing hand or breathability. This is a game changing technology that will broaden the way people think about Nylon for FR applications.”
Under this agreement, both parties will be working together on commercial and technical roll-out, establishing manufacturing capacity, and supplying customers over the coming ten months with a view to a rapid roll out. While the specific terms of the license are confidential, the agreement includes an upfront license fee, development cost sharing, machine sales, milestone payments, and royalties based on product sales, and minimum quantities. Together, Duro and Alexium are targeting a North American current market opportunity in excess of 4 million linear yards of nylon. Duro will also have limited rights to export military fabrics to Europe and the Middle East.
Stefan Susta, Alexium’s COO and Executive Director said “We appreciate Duro’s commitment as a commercial partner and appreciate Duro’s ability to make a sizable investment in this technology. We look forward to a mutually beneficial relationship.”
After completing a technical ramp-up and market introduction period, this agreement is expected to establish a solid revenue stream for Alexium and will assist the company in expanding into other technology platform areas.
“Alexium will push for growth in the next year. It will be an exciting year. Specific to these topical FR nylon treatments, Alexium has initiated discussions to establish similar commercial relationships in other global territories. While that is our near-term focus, our longer-term strategic objective is to expand our FR treatment into other applications and markets, “said Stefan Susta.
“Aside from these topical, halogen-free nylon treatments on fabrics, we are looking to apply our technology to carpets, synthetic fabric blends, and as polymer additives in materials for non-textile applications,” said Alexium’s Chief Technology Officer, Dr. Bob Brookins.
For more information visit: www.alexiuminternational.com
COO & Executive Director
T: +1 864-908-6946
Gavin Rezos Nicholas Clark
Executive Chairman CFO & Company Secretary
T. +618 6162 1358 T. +618 6162 1358
M. +61 412 898 235 M. +61 432 412 663
Alexium International Group Limited (ASX:AJX, AX:AJX OTC QX:AXXIY) holds proprietary patent applications for a process developed initially by the US Department of Defense , which allows for the surface modification and attachment of nano particles or multiple chemical functional groups to surfaces or substrates to provide functions such as water proofing, oil proofing, anti-microbial, non-stick and UV protection. Applications under development include but are not limited to textiles, paints, packaging, glass and building materials.
Alexium International Group Limited (OTCQX: AXXIY) trades on the OTCQX, the top tier of the OTC market designed for the best OTC companies that meet the highest financial standards and undergo a qualitative review. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com
About Duro Textiles
Duro Textiles is one of the United States’ largest dyers, printers, finishers and distributors of textile products. Duro’s military products range from light to heavy weight fabrics that are used in everything from ultra-light-weight-breathable ponchos, tents, sleep systems, physical training uniforms, to the extreme durability of ballistic nylon tactical outerwear. Duro is also a major fabric supplier to the performance apparel, industrial, tactical, home, and hospitality markets. Duro Industries and sister companies Galey & Lord and Best Textiles are part of Patriarch Partners, LLC, a private equity firm managing $7 billion in assets in more than 70 companies.
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