Shares in Alexium International Group Limited (ASX:AJX) closed more than 20 per cent higher yesterday after the company announced a strategic alliance with US textiles distributor Duro Textiles.
Alexium chief technology officer Bob Brookins says the company has developed an eco-friendly flame retardant treatment that extinguishes a flame without the fabric melting.
Alexium and Duro will partner to license Flame Retardant Nylon Treatment for Duro’s nylon product areas in North America, under an exclusive commercial agreement which will be formalised over the coming weeks.
Duro Textiles is one of the largest dyers, printers, finishers and distributors of textile products in the US.
Shares in Alexium International Group jumped 20.69 per cent yesterday, closing at $0.105.
Alexium International Group reported a net loss of $1.4 million in the first half of the 2012 financial year.
