Nexam Chemical signs supply agreement with Armacell
Nexam Chemical and Armacell have signed a supply agreement regarding the NEXAMITE®-technology and related products for the production of PET-based foam. The deliveries are expected to start during the first half of 2017. Armacell is one of the four largest manufacturers of high performance PET-based foam in the world.
“We have during a long time developed our NEXAMITE®-technology in collaboration with Armacell and can now see significant improvements in the properties of their PET-foam. Our NEXAMITE®-technology adds customer value and contributes to a new improved product for Armacell. Using our technology enables Armacell to increase the use of recycled PET (rPET) without sacrificing any product properties, in a growing market where sustainability is an important driver. We see large potential in our product and look forward to grow our businesses together with Armacell”, says Nexam Chemicals CEO, Anders Spetz.
“During the last years we have performed several development projects to reach the next level in r-PET foam technology, and in the collaboration with Nexam Chemical we found the right and competent partner. The NEXAMITE®-technology supports us to increase efficiency of our high performance ArmaFORM® PET foams, 100% made from recycled PET. With this supply agreement we take the next step in our joint businesses and we look forward to continue the close cooperation with Nexam Chemical.”, says Armacell Managing Director PET Foams, Thomas Kessel.
Armacell is a world leader in flexible insulation foams for the equipment insulation market and also a leading provider of engineered foams. In 2015, the company, currently with approximately 2,900 employees and 24 production plants in 15 countries, generated net sales of 540.2 million euros. The PET Foams business unit develops, manufactures and markets innovative and environmentally friendly structural PET foam cores for the composite industry, especially in target markets such as wind energy, building and construction and rail and road transportation. As a pioneer in the field of PET technology, Armacell was the first manufacturer to succeed in foaming high quality, bottle-grade PET on an industrial scale and qualifying PET foams for the composite industry. Armacell is the only manufacturer in the composite industry offering PET foam cores with consistent, reliable qualities, 100% made of post-consumer (recycled) PET material.
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 08:15 CET on February 22, 2017.
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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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