Nexam Chemical and Diab enter into supply agreements for 2020-2021

Nexam Chemical has signed supply agreements with Diab, one of the four largest manufacturers of high-performance foam in the world.

Nexam Chemical supports Diab's production in Europe, North America and Asia, with the total sales value amounts to between 100 and 120 million SEK for the current years.

The agreement covers the delivery of Nexam Chemical's property-enhancing additive NEXAMITE, which is part of Diab's PET foam products, used by wind mill producers.

The companies believe the total wind power market is in a strong growth and the PET usage in wind mill blades is expected to increase sharply in the coming years.

Nexam Chemical has previously reported intensified work with Diab, starting in 2015 with the aim of developing a high performance PET foam containing NEXAMITE technology. The product development was successful and in 2019 the collaboration generated growing business that now can be quantified for 2020 and 2021.

“This is a very important event in Nexam Chemical's history. We have reached a very important milestone, which also enables us to feel great confidence, well beyond 2021,” said says Johan Arvidsson, CEO of Nexam Chemical.

“There is currently a challenging market situation. Therefore, it feels very nice to be able to announce this now. For Nexam Chemical, the collaboration with Diab and the volumes this generates are very important for our development in the Performance Chemicals area.”