Breakthrough for Nexam Chemical on the Chinese market – receives order of approximately SEK 1 million regarding NEXIMID®
Nexam Chemical has for several years been working on the Chinese market to introduce and establish its NEXIMID®-products to manufacturers of carbon fiber composites for high temperature applications. By applying NEXIMID® in the polyimide-based plastics used for these demanding products, substantial property improvements are obtained.
When introducing NEXIMID® to a new customer, it is initially relatively small volumes that will grow over time. After a period of evaluation, our Chinese customers have started to apply our products in certain high value carbon fiber composites. During 2018, volumes have gradually increased, and Nexam Chemical has so far this year sold for approximately SEK 1 million. Nexam Chemical has now received feedback that the volumes are expected to grow and in connection to this, received a new order of approximately SEK 1 million. The development has been above expectations which corresponds to a growth of 200 % within this area for the full year 2018.
“Our NEXIMID®-sales have historically been strongly linked to the North American market, but we now see that our work on the Chinese market is starting to pay off. Major investments are now made in China within the composite industry to provide lightweight materials for the emerging civil aviation industry. Our NEXIMID®-products provide major enhancements to lightweight composites. This has been a strong contributing factor to our success this time. It has also become easier for foreign companies to compete on the Chinese market since domestic products have increased in price as a result of authorities closing down environmentally unfriendly production. We therefore see good opportunities for further growth in the Chinese market,” says Johan Arvidsson, CSO Nexam Chemical.
Note: This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
For further information please contact:
Anders Spetz, CEO, +46-703 47 97 00, anders.spetz@nexamchemical.com
This information is information that Nexam Chemical Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on September 13, 2018.
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About Nexam Chemical
Nexam Chemical develops technology and products that make it possible to significantly improve the production process and properties of most types of plastics in a cost-effective manner and with retained production technology. The improved properties include strength, toughness, temperature and chemical resistance as well as service life. The improvements in properties that can be achieved by using Nexam Chemical's technology make it possible to replace metals and other heavier or more expensive materials with plastics in a number of applications. In applications where plastic is already used, Nexam Chemicals products can improve the manufacturing process, reducing material use and enable more environmental friendly alternatives. Example of commercial applications: pipe manufacturing, foam production and high-performance plastics. More information about the business will be found on www.nexamchemical.com. The company´s Certified Adviser is FNCA Sweden AB.
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