MOSCOW (MRC) -- Nasdaq First North-listed Nexam Chemical – which invents, develops, produces and sells additives to the plastics industry worldwide – has continued success with additives for PET recycling in South Korea, said Polymerupdate.
The order has a value of approximately SEK 2 million and will be delivered during February, March and April 2023. This builds further confidence in the Reactive Recycling product portfolio.
On two previous occasions during the autumn 2022, Nexam Chemical has informed about a new business relationship in South Korea. The new customer has gradually gone from a major industrial attempt to repair recycled plastic to now entering a more regular situation. This means that the customer places an order for a time interval, which is a sign that the project is entering a continuous commercial phase that usually lasts for a longer period, usually several years.
"That we go from lab samples to pilot scale and then to industrialization is exactly what we strive for in all projects. This time, however, it has gone much faster than usual, which is extra gratifying. The fact that it also concerns our growth oriented initiative in Reactive Recycling strengthens our confidence in the market," says Johan Arvidsson, CEO of Nexam Chemical.
As per MRC, Nexam Chemical has received an order from an existing customer in the area of PET additives for deliveries to the USA. The customer is a market-leading manufacturer of PET foam. It is the single largest order in the United States and also one of the largest ever for Nexam Chemical globally. Nexam Chemical has previously delivered products to this customer and this order confirms good growth in the business.