Nexam Chemical Holding AB (publ). 2013 year-end report 1 January – 31 December 2013
ET | Source:Nexam Chemical Holding AB
The Quarter at a Glance
· Successful upscaling of production and initial sale worth approx. SEK 900
thousand of products to the HICTAC Clean Sky Project, with Rolls-Royce Jet
Engines as the end client.
· Continued development together with the leading PET foam producer, Armacell.
Armacell has announced that, in the event of successful results, they plan on
initiating commercialisation of products containing Nexam's crosslinkers in
several fields of application.
· Positive results in the PA 66 project with BASF, which prompted discussions
on going into a commercialisation phase.
· Customer project involving a special nylon for use in, for example, mobile
phones and tablets has progressed. Tests in regular production on the premises
of the customer is in the process of being planned for Q1 2014.
· Discussions with Nexam's partners in the PO-Cross project are ongoing which
aim to continue and expand our cooperation for the purpose of commercialising
the results achieved.
· Nexam has intensified its cooperation with three select contract
manufacturers, which have now initiated preparations for production of Nexam's
products on a larger scale.
· Nexam St. Andrews has completed final delivery of products to external
customers and is now focusing on manufacturing Nexam products.
· Nexam's patent application for the unique molecule MEPA was granted in
Europe. This patent is important, since MEPA is key for crosslinking nylons.
· Nexam's patent application for catalysis of crosslinking was granted in the
· Nexam entered into a cooperation agreement with a US-based company for
developing a new high-temperature polyimide resin for composites for aerospace
Financial & legal:
· Net turnover for the period totalled SEK 1,707 (142) thousand. Net
profit/loss before tax came in at SEK –8,126 (–4,933) thousand.
· Total assets at the end of the period amounted to SEK 54,396 (21,590)
thousand, of which there were SEK 32,511 (7,265) thousand in cash and cash
equivalents at the end of the period.
· Cash flow during the period was reported at SEK –7,172 (–6,552) thousand,
which was according to plan.
Key Events after the End of the Period
· BASF and Nexam Chemical have jointly decided to initiate the
commercialisation phase for a new crosslinkable material based on nylon 66 and
Nexam's crosslinkers. BASF has been awarded a two-year market exclusivity, on
the condition that it buys a certain minimum volume of Nexam products during the
· Nexam has entered into a three-year supply agreement with Armacell, the
world's largest producer of PET foam. Armacell has exclusivity for the use of
Nexam's crosslinkers for PET foam, on the condition that it buys a certain
minimum volume of Nexam products during the contract term.
· Customer project involving special nylon for applications such as mobile
phones and tablets have progressed. Positive test results have been achieved and
a larger volume of test materials have been produced and delivered to the
customer for full-scale production tests in the end of February. The customer
has announced that, in the event of successful results in the production runs,
it will begin using the material commercially in the near future.
· More in-depth discussions concerning cooperation agreements and forms of
cooperation for commercialising crosslinkable polyolefin, such as polyethylene
for pipes etc. is ongoing with one of the participants in the PO-CROSS Project.
· Nexam has contracted an agent in Europe to sell Nexam products to
converters, for applications such as upgrading recycled PET and polythene. Many
interesting business opportunities have already been identified together with
· Nexam's cooperation with three selected contract manufacturers continues
with high intensity and preparations for production of Nexam's products on a
multi-tonne scale are ongoing.
· Nexam's patent application for the production of EBPA granted in Europe.
This patent is important, since EBPA is key for the hightemperature resin Rolls
Royce is evaluating.
· Nexam's patent application for the unique molecule MEPA granted in South
· The Board of Directors of Nexam has decided to begin preparing the Company
for changing its listing from NASDAQ OMX Stockholm First North to NASDAQ OMX
Stockholm Small Cap.
Lund, 26 February 2014
Board of Directors
These financial statements have not been audited by the Company's auditor. Note:
This report has been translated from Swedish.
The Swedish text shall govern for all purposes and prevail in case of any
discrepancy with the English version. Read the PDF for the complete report
For more information, please contact:
Lennart Holm, Chairman of the Board: +46 (0)706 30 8562
Per Palmqvist Morin, CEO, +46 (0)706 55 55 82
GlobeNewswire, a NASDAQ OMX company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.