7th Jan 2020 09:38
(Alliance News) - Specialty polymers firm Itaconix PLC said Tuesday it has delivered the first order of polymeric zinc complex Zinador 35L to FTSE 100-listed chemicals firm Croda International PLC.
Shares in New Hampshire-based Itaconix were up 6.4% at 1.62 pence on Tuesday, while East Yorkshire-based Croda's shares were 0.1% higher at 5,100.00p in London.
Itaconix first signed the agreement in 2017 for the supply of its polymer-based odour removal additive Zinador 22L to Croda, for home and industrial applications.
In October 2019, Itaconix expanded the agreement to include the more concentrated Zinador 35L, which is designed for use in detergent and industrial applications.
"The launch of Zinador 35L through our collaboration with Croda is a significant commercial milestone for us. I believe the performance and cost advantages available with Zinador 35L can generate new and broader use of our odour control polymers," said Chief Executive Officer John Shaw.
By Dayo Laniyan; [email protected]
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