Update on joint development programme

RNS Number : 6392V

Xeros Technology Group plc

11 August 2015

 

11 August 2015

Xeros Technology Group plc

Phase 1 of joint development with LANXESS to develop leather bead processing technology concluded

Xeros Technology Group plc (AIM: XSG, "Xeros" or "the Group"), the innovative developer of a patented polymer bead cleaning system with multiple identified commercial applications, announces its multi-phase joint development programme between Xeros and LANXESS Deutschland GmbH ("LANXESS") to advance the application of Xeros' polymer bead cleaning technology in the leather processing industry is on schedule. Phase 1 has been concluded satisfactorily and the partnership is going to enter the next phase of technical and commercial validation as planned for the second half of 2015.  

The Leather business unit of specialty chemicals group LANXESS is a leading supplier of systems solutions for the leather industry. The unit is part of LANXESS' Performance Chemicals segment, which posted sales of EUR 2.2 billion in fiscal 2014.  

Xeros has developed a process, similar to its patented process already deployed in its established Commercial Laundry business, whereby the majority of water used in leather processing is replaced by Xeros' high performance polymer beads.  

For further information, please contact:

Xeros Technology Group plc www.xeroscleaning.com	Via Instinctif Partners
Bill Westwater, Chief Executive Officer Chris Hanson, Finance Director
Jefferies International (Nominated Adviser)	Tel: [phone]
Simon Hardy / Harry Nicholas
Instinctif Partners	Tel: [phone]
Helen Tarbet / James Gray

 

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