On March 18th, Sweden's Nexam Chemical and Sweden DIAB Group signed a 2020-2021 annual supply agreement to provide the modified additive product NEXAMITE® for the latter's PET foam core products. The total value of the agreement is about 6880-82.5 million yuan.
"This will be an important milestone in the company's development history," said Johan Arvidsson, CEO of Nexam Chemical. "The signing of this agreement gives us confidence in the company's development in 2021 and beyond."
Nexam Chemical said that PET foam core material is an important raw material for the wind power industry. Driven by the strong wind power market conditions, the demand for PET foam core materials will also achieve significant growth in the next few years.
"The current market environment is extremely challenging. Therefore, we are comforted by signing this supply agreement at this moment. For Nexam Chemical, being able to maintain a close cooperative relationship with Sweden DIAB Group and sign such a huge order is very high for the company. Business development in the field of performance chemicals is very important. "Johan Arvidsson said.
The cooperation between Nexam Chemical and Sweden DIAB Group started in 2015. Based on NEXAMITE® technology, both parties successfully developed a high-performance PET foam core material in 2019, and will pass the market verification in 2020-2021.