Alexium enters deal with Pegasus for Cool Touch pillows

Company News

by David Chau

Alexium International Group Ltd (ASX:AJX) has signed an initial contract with New York-based Pegasus Home Fashions Inc, which it expects to bring in US$10 million in ongoing revenue per year.

Under the initial contract, Alexium is to supply its Alexicool chemistry to Pegasus for the bedding pillows market across the United States.

Alexium is a specialty chemicals development company, headquartered in Perth. The company describes Alexicool as a cost-effective chemical finish for fabrics that absorb heat while providing a cool-to-touch feeling.

Alexium says it is also working to finalise agreements to sell Cool Touch pillows to three of the US’s largest commercial retailers, which would place Alexicool-treated Pegasus-branded pillows on the shelves of over 6,500 locations.

Alexium posted a net loss of $15.4 million at 30 June 2016.

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