Xeros Technology Group plc Xeros signs 10 year contract with Mexican tannery (4727B)

TIDMXSG

RNS Number : 4727B

Xeros Technology Group plc

21 September 2018

21 September 2018

Xeros Technology Group plc

Xeros signs 10 year contract with leading Mexican tannery

Xeros Technology Group plc (AIM: XSG, 'Xeros', 'the Group'), the developer and provider of water saving technologies with multiple commercial applications, has signed a 10-year contract with Le Farc SA de CV ('LEFARC') to convert its re-tanning operations in León, Mexico to use Xeros' patented polymer technology.

With a weekly production of 5,000 hides, LEFARC is a globally recognised tannery producing leather for shoes, supplying brands such as Timberland and Wolverine.

Xeros anticipates leather produced by LEFARC using its technology to be incorporated in consumer products after March 2019.

The tannery is located in one of the world's leading tanning centres, supporting the major brands in the shoe and auto industries.

The contract follows extensive trials which demonstrated material reductions in process inputs and effluent production and radically improves the sustainability of production, whilst maintaining high quality leather output.

Mark Nichols, Chief Executive of Xeros, said:

"This contract with LEFARC confirms that our tanning technologies are viable and play a valuable role in the production of leather. In partnership with our customers, we can radically improve sustainability whilst sharing in the value our innovative technology creates.

"We have successfully validated our technology through re-tanning trials for over 40 different recipes with multiple tanneries in Europe and Mexico.

"The considerable interest we are seeing from leading tanneries is a strong indication of the potential to increase rapidly the deployment of our technology in what is a global scale industry - we expect to secure further contracts into the future."

Enquiries:

 
 Xeros Technology Group plc                   Tel: [phone] 
  Mark Nichols, Chief Executive Officer 
  Paul Denney, Chief Financial Officer 
 
 Jefferies International Limited (Nominated   Tel: [phone] 
  Adviser and Joint Broker) 
  Simon Hardy / Will Soutar 
 Berenberg (Joint Broker)                     Tel: [phone] 
  Chris Bowman / Ben Wright / Laure Fine 
 Instinctif Partners (Financial PR)           Tel: [phone] 
  Adrian Duffield / James Gray 
 

Notes to Editors

Xeros Technology Group plc (LN: XSG) is a platform technology company that is reinventing water intensive industrial and commercial processes.

Xeros' uses its patented XOrb(TM) technologies to significantly reduce the amount of water used in a number of major applications with the remaining water becoming far more efficient in either affixing or removing molecules from substrates such as fabrics and garments. The result being significant improvements in economic, operational and sustainability outcomes.

Xeros has three divisions working in the garment finishing (Textile Technologies), tanning (Tanning Technologies, branded Qualus) and cleaning/laundry (Cleaning Technologies) markets. In cleaning/laundry, the company has three applications covering domestic laundry, commercial laundry (branded "Hydrofinity") and the cleaning of high performance workwear (branded "Marken").

For more information, please visit - http://www.xerostech.com/

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September 21, 2018 02:00 ET (06:00 GMT)