LANXESS, a well-known name in the global chemical industry and producer of flame retardants, has entered into a memorandum of understanding with FRX Innovations, developer and manufacturer of environmentally sustainable polymeric flame-retardant additives. As reported by TheNewswire, the agreement encompasses the following key areas:
LANXESS will assess the possibility of contract manufacturing a range of FRX patented NOFIA® products.
LANXESS may potentially engage in the production of a raw material, protected by FRX’s patent, that is essential for manufacturing NOFIA® flame retardants.
LANXESS and FRX will jointly explore potential marketing opportunities for NOFIA® flame retardants in specific sectors and/or geographic regions.
“Being a unique polymeric, sustainable flame-retardant solution, the NOFIA® range fits perfectly with LANXESS’ existing phosphorus flame retardant portfolio and long-term strategy of sustainable flame-retardant solutions,” said Karsten Job, Managing Director of LANXESS’ Polymer Additives business unit. Job added, “We believe that FRX’s NOFIA® technology will capture important market share in this market”.
“This relationship with LANXESS is a definitive step in the growth of our NOFIA® business,” said Marc Lebel, CEO of FRX Innovations. Lebel added, “As a direct consequence of recently passed legislation, market dynamics have changed significantly, causing NOFIA® products to be pulled into large new application areas. LANXESS operates one of the world’s premiere Flame-Retardant Additives businesses and we believe that a strategic partnership with LANXESS can be pivotal to capturing the considerable growth opportunities ahead for us both”.
