30th Oct 2018 11:09
LONDON (Alliance News) - Directa Plus PLC said Tuesday it inked a further non-exclusive agreement with Indian denim manufacturer Arvind Ltd to include composites and water treatment to their textile deal.
The two companies had already signed a partnership in May to develop and launch graphene-enhanced jeans and jackets. The products were presented last week in Amsterdam at the Kingpins Show, a denim conference and trade show attended by the "key" market players in the industry.
Under the terms of the new agreement, Directa and Arvind will collaborate to expand their existing co-operation in textiles to include advanced composite materials and water treatment services.
Directa Chief Executive Officer Giulio Cesareo said: "We have enjoyed close co-operation from Arvind in recent months and we are confident that our developing common understanding will help both companies meet their commercial goals.
"The launch of the G+ range of denimwear could prove transformational for the sale of jeans in India and elsewhere, and Directa Plus is delighted to be able to participate in that trend."
Directa Plus shares were trading down 4.8% at 46.0 pence each on Tuesday.
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