logo-loader
viewItaconix PLC

Itaconix rockets as it inks second supply agreement this year with chemicals firm Nouryon

Under the agreement, Itaconix would supply its polymers to Nouryon who would then market them to its customers in personal care products

Sun cream application
Nouryon's products are used in a wide variety of applications including sun screen

Itaconix Plc (LON:ITX) shares rocketed in mid-morning trading Thursday after signing an exclusive supply agreement with chemical firm Nouryon for its bio-based polymers.

Under the agreement, Itaconix would supply its polymers to Nouryon who would then market them to its customers in personal care products such as sunscreen, body wash, and cosmetics.

WATCH: Global blue-chip partners to underpin revenue growth for Itaconix PLC

Nouryon, which was formerly the speciality chemicals arm of Dutch painting and coatings giant AkzoNobel, sells a wide range of products in the personal care and hair styling industries.

The deal is the second supply agreement signed between the two companies so far this year, with Itaconix having previously agreed to supply its polymers for use in Nouryon’s detergent products back in January.

John R. Shaw, chief executive of Itaconix, said the deal was “another major step” in increasing the company’s revenue growth by “accessing more customer opportunities through worldwide leaders in key application areas”.

Shares in Itaconix were up 55% at 4p.

Quick facts: Itaconix PLC

Price: 1.525 GBX

AIM:ITX
Market: AIM
Market Cap: £4.1 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Itaconix PLC named herein, including the promotion by the Company of Itaconix PLC in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Itaconix PLC's John Shaw on expanded supply agreement with Croda

Itaconix PLC's (LON:ITX) John Shaw tells Proactive London's Andrew Scott they've expanded its existing global supply agreement with FTSE 100 chemicals company Croda International Plc (LON:CRDA). Shaw says they'll receive a US$60,000 milestone payment from Croda in exchange for adding ZINDOR...

3 weeks, 1 day ago

2 min read