PERTH, AUSTRALIA and GREER, SC -- (Marketwired) -- 03/14/16 --Alexium International Group Limited (Alexium) (ASX: AJX) (OTCQX: AXXIY)
Highlights:
- New customers represent wide range of target markets, including polymers and resins;
- Alexium increases customer portfolio by a further 18;
- Work with polymers and resins clients moving expeditiously;
- Revenue position on track for US$18.5M baseline forecast for CY2016, with significant upside potential;
- On schedule to achieve cash break even during CY2016 on basis of strong margins;
- Year-long history of quarter-on-quarter growth forecasted to continue through CY2016 and CY2017
Alexium International Group Limited's (Alexium) (ASX: AJX) (OTCQX: AXXIY) is pleased to advise progress in converting development and trial run opportunities into active revenue streams.
Alexium has made sales with 18 new customers (past the trial run process) thus far in 2016, across our range of environmentally friendly Fire Retardant (FR) products and representing a wide range of target markets and annualized sales volumes.
This generation of new clients and broadening of target markets to include the large polymer and resins segments provides upside potential to our baseline revenue forecasts of US$18.5m for CY2016.
Given the increasing rate of customer generation, Alexium will generally provide summary press releases in place of individual announcements going forward.
"As with any growing company, our revenue forecasts involve rate step changes month on month such that the revenues build during the course of the year as we fulfill rising sales orders," stated Dirk Van Hyning, President of Alexium. "While we will continue to see quarter-on-quarter growth, a significant fraction of our revenue will be received in the latter half of calendar year 2016 as sales complete, underpinning our baseline forecasts made in December 2015."
Alexium continues to implement infrastructure to reliably supply product to our existing customer base while our development of new opportunities, particularly in the polymers and resins sector, continues at an increasing pace.
The polymers industry remains an Alexium top new market. Alexium is continually engaging with polymer manufactures, with our chemistry being regularly applied and tested, ready for market inception.
As our revenue, IP and customer opportunities continue to expand, Alexium will provide sales updates during the year.
About Alexium
Alexium International Group Limited (ASX: AJX) (OTCQX: AXXIY) holds proprietary patent applications for a process developed initially by the U.S. Department of Defense, which allows for the surface modification and attachment of nano-particles or multiple chemical functional groups to surfaces or substrates to provide functions such as fire retardancy, water proofing, oil proofing, and anti-microbial treatments. Applications under development include but are not limited to textiles, paints, and packaging, glass and building materials. Alexium's fire retardant chemical treatment are currently marketed for different fabric markets under the Alexiflam™, Ascalon™, Nycolon™, Nuvalon™, and Polytron™, Omnitron™ and Bactron™ trademarks.
U.S Contacts:
Nick Clark
Chief Executive Officer
nclark@alexiuminternational.com
U.S.: +1 864.991.6687
Bradi Dobson
Marketing Specialist
BDobson@alexiuminternational.com
U.S. R&D Center:
8 Distribution Court
Greer, SC 29650
T: +1 864.416.1060
F: +1 864.752.6465
U.S. Corporate Office:
148 Milestone Way
Greenville, SC 29615
T: +1 864.603.1165
ABN: 91 064 820 408
ASX: AJX
