Alexium International Group (ASX:AJX, OTCQX:AXXIY) has become a new provider of Flame Retardant (FR) Chemistry to the U.S. based Murdock Webbing.
Murdock is a major supplier of rigid and stretch webbing for straps to end users ranging from US Military products to safety harnesses to rigid tie-downs.Ray Clarke, VP of Sales for Murdock Webbing, commented:
“As collaboration with Alexium continues, we are confident with our decision to use Alexium’s flame retardant products as those products continue to exceed our expectations for performance.”
Now Alexium's FR chemistry formulations will be added Murdock Webbing’s fire retardant webbing product lines.
This has the potential to further build on Alexium's revenues, and highlighting the blue sky potential, the global webbing market for rigid and stretch webbing is estimated at US$3.2 billion per annum.
First sales
Alexium said that first sales will be in the FR Stretch Webbing market segment for use in flexible goggle straps for the US Military.
The company then expects to expand with Murdock into the much larger FR Rigid Webbing market which includes military FR equipment applications for backpacks, parachutes, field vests, duffle bags, uniform accessories, belts and tents.
Nicholas Clark, CEO and executive director of Alexium, commented:
“As we continue to capture more of the military market, we feel Murdock Webbing, with a steadfast reputation within the military arena, was the perfect choice for collaboration on this specialist application.
"Beyond our efforts with Natick on 50/50 Nylon Cotton for FR Uniforms, this is the next step in our goal of supplying the military with all of its FR equipment needs.”
Broker support
Sydney firm Foster Stockbroking has a Buy Recommendation on Alexium.
