I-tech: Signs agreement with Akzo Nobel subsidiary - ABG

Akzo Nobel Selektope product on Korean market in 6-12 months
Adds Akzo Nobel to list of named customers, brining the total to four
Supports estimates and confirms interest post EU regulatory issue


New product containing Selektope within 6-12 months

I-Tech announced in a press release this morning that it has signed a licence agreement with International Paints Korea Ltd, a subsidiary of Akzo Nobel, for commercial use of Selektope. In H1'23, 50% of I-Techs revenue came from South Korea, which is one of the world's largest shipbuilding nations, winning 29% of world-wide ship orders in H1'23. International Paints Korea Ltd is expected to release an antifouling product containing Selektope targeting the South Korean market within 6-12 months.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/i-tech/Equity-research/2023/11/i-tech---signs-agreement-with-akzo-nobel-subsidiary/