Zotefoams PLC (LON:ZTF) bounced higher as it unveiled a strategic partnership with Nike to develop high end foams for trainers and other footwear for athletes.
The foams can be formulated to specific customer needs and are superior in performance, consistency, quality and purity to foams produced by other methods, the company said.
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Zotefoams will work exclusively with Nike to develop and manufacture foam innovations for high-performance athletic products.
Shares in the foams group shot up 15% to a new all-time high of 461p on the news.