No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Intellectual property business Frontier IP said on Tuesday that portfolio company Alusid had inked its second international distribution agreement with 3D Wall Panels Italia.
Frontier IP said the deal expands Alusid's distribution further across Europe following the agreement with Dutch sustainable materials firm FRONT Materials, which has already secured its first project for a hospitality business in Amsterdam.
Initially, the agreement grants exclusivity to 3D Wall Panels Italia in Italy for commercial sales of Alusid's wall tile, floor tile and Silicastone product ranges.
The AIM-listed firm stated the agreement was set to last for two-and-a-half years, subject to sales targets being met.
Frontier IP chief executive Neil Crabb said: "This agreement provides further evidence that Alusid's groundbreaking materials have global appeal and the potential to make inroads into significant markets within European and elsewhere. It builds on existing international relationships with FRONT Materials BV in the Netherlands and Starbucks EMEA and strengthens the company's position as it continues to explore options for an initial public offering."
As of 1030 BST, Frontier IP shares were up 5.71% at 22.20p.
Reporting by Iain Gilbert at Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.