Nasdaq First North-listed Nexam Chemical – which invents, develops, produces and sells additives to the plastics industry worldwide – signs a new agent in Seoul, South Korea. An order to carry out a larger industrial trial to repair recycled plastic with Nexam Chemical's Reactive Recycling solution has been placed. The Reactive Recycling solution significantly improves the properties of plastics and polymers.
According to the company’s website news release on September 19, 2022, the order for reactive recycling for recycled PET (r-PET) to Korea is worth SEK 140,000. The upgraded r-PET is to be used in automotive applications with a sales potential for Nexam Chemical of SEK 14 million per year.
"With a new agent and in a new market, Nexam looks forward to more projects and new business. Being able to repair recycled plastic has many advantages – in this case providing the automotive industry with new applications," says Johan Arvidsson, CEO of Nexam Chemical.
“In 2020, South Korea banned the import of PET bottles to encourage and improve domestic collection and recycling of PET. From 2022, they will ban the import of plastic waste from abroad, which could be a good business opportunity for Nexam. This is because it puts more focus on domestic recycling and can accelerate demand for Nexam's products," said Mr. Saan-Soo Cha.
The agent, Mr. Sang-Soo Cha, has almost 30 years of experience from the chemical industry and has previously, among other things, worked for several years as sales director and general manager for Perstorp AB within the Korean division.
"For the product portfolio for reactive recycling, Mr. Cha is also developing the Nexam NEXIMID portfolio with a focus on the electronics industry, an area where a lot of research and development is going on in South Korea," says Johan Arvidsson.
For more information, please contact:
Johan Arvidsson, CEO, +46-708 97 44 39, johan.arvidsson@nexamchemical.com
About Nexam Chemical
Nexam Chemical develops technology and products that make it possible to significantly improve the production process and properties of most types of plastics in a cost-effective manner and with retained production technology. The improved properties include strength, toughness, temperature and chemical resistance as well as service life. The improvements in properties that can be achieved by using Nexam Chemical's technology make it possible to replace metals and other heavier or more expensive materials with plastics in a number of applications. In applications where plastic is already used, Nexam Chemicals products can improve the manufacturing process, reducing material use and enable more environmental friendly alternatives. Example of commercial applications: pipe manufacturing, foam production and high-performance plastics. More information about the business will be found on www.nexamchemical.com. The company´s Certified Adviser is FNCA Sweden AB. FNCA Sweden AB can be reached at info@fnca.se or by phone +46-8 528 00 399.
