Nexam Chemical Holding AB (publ) Year-End Report 1 January – 31 December 2014
The fourth quarter at a glance
As of 1 January 2015 Anders Spetz has been appointed new CEO of Nexam Chemical.
NEXIMID® MHT-R, a new resin for high temperature applications, has been launched.
NEXAMITE® PBO, a multifunctional additive, has been introduced on the market.
Nexam Chemical and BASF have jointly decided not to extend the exclusivity agreement which expires in May 2015. This enables Nexam Chemical to collaborate with other partners regarding nylon-66.
The exclusivity agreement with Armacell has been extended after delays in the developing process. This is a result of a strategic decision made by Armacell to switch over to recycled PET.
The rPET project, partly financed by Eurostar, began during the quarter as a collaboration with Armacell and The European Van Company. The aim of the projcect is to develop a product that can help PET and recycled PET to be upgraded for use in, e.g. sandwich composites for production of vehicle bodies.
Financial & legal:
Net sales for the fourth quarter totalled SEK 642,000 (1,707,000). Profit/loss before tax for the period amounted to
SEK -10,446,000 (-8,126,000).
Total assets at the end of the period amounted to SEK 84,880,000 (54,516,000), with cash and cash equivalents accounting for SEK 62,543,000 (32,511,000).
The net cash flow for the fourth quarter was SEK -8,961,000 (-7,172,000).
Key events after end of the period
The Management and key persons in the company has subscribed for a total of 700,000 warrants.
Christian Svensson, acting CFO since August 2014, has been employed.
Two new patents has been approved. In the US, for a new process of manufacturing EBPA and in Europe for catalysis of crosslinking.
Lund, 25 February 2015Board of Directors
These financial statements have not been audited by the Company’s auditor.
This Year-End Report is published in Swedish and English. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
For more information, please contact:Lennart Holm, Chairman of the Board: +46 (0)706 30 8562Anders Spetz, CEO, +46 (0)703 47 97 00