Alexium has now received its first purchase order in the floor covering market, which is additionally important as this breaks the company into a new sector, and validates its technology in a new market.
The new customer is one of the world's top four carpet suppliers located in Dalton, GA.
Nicholas Clark, CEO and executive director, commented:
"I am very pleased with the recent entry into this new and significant market.
"Having material client wins such as this further demonstrates that Alexium is an industry leader in environmentally friendly FR chemistries.
"Achievements such as this provide further support to our calendar year target and our quarter on quarter growth."
U.S. carpet market
According to Georgia Trend, eighty percent (80%) of the U.S. carpet market supplies 45% of the world's carpet and is all controlled by mills located within a 65-mile radius of Dalton.
This region is less than 200 miles from Alexium's operations in Greer, SC.
Of the entire flooring industry, carpet accounts for 64.6% of the total market share by volume and 47.4% by dollar.
The generation of new clients and broadening of target markets includes the large polymer and resins segments.
This provides further upside potential to the company's baseline revenue forecasts of US$18.5 million for CY2016.
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