AJX Research Note, page-17

Hi SP, yes i was originally referring to the global NYCO which i pointed out was equal size to the 4 year revenue estimates. If that went well that alone would prove Fosters est conservative imo.

You rightly pointed out its global and Alexium unlikely to get all of that, however i then pointed out in my reply that Fosters have made no estimate for 100% Nylon or other extras. They simply talk about the market size of NYCO.

So my point is, while Alexium may not get US$250m revenue from NYCO, it may well get it from all FR fabrics sold to defense globally.

Why do you feel Alexium may not get much from other countries with FR NYCO uniforms? The US is the gold standard for these things, i wouldve thought Nato almost certain to follow and recent announcement said Isreal and Turkey were interested.

If we consider just the historical FR Army Combat Uniform was worth $10-16m then what would all Combat Uniforms be in Army, Navy, AF ect be? Surely half the $250m? Nato half that? Isreal, Turkey........well on the way to nudging $200m + nylon + boots, vests, straps and whatever else.