ORGANOCLICK SIGNS DISTRIBUTION AGREEMENT FOR THE TAIWANESE TEXTILE MARKET
OrganoClick AB (publ) has signed a distribution agreement for its textile functional additives for the Taiwanese market. Under the agreement, OrganoClick's durable water repellent (DWR) that is used for the production of OrganoTex®, will be sold and marketed in Taiwan by the distributor Pinnacle Tek Co which has a broad network in the Taiwanese textile industry.
OrganoClick has since last spring focused on setting up collaborations with local distributors on the Chinese, Taiwanese, South Korean and Japanese market. Approximately 77 % of the worlds production of functional textiles is made in these countries. Taiwan has more than 3.000 textile factories which supply functional textiles to most of the leading outdoor brands.
The non-exclusive distribution agreement that has been signed with Pinnacle Tek Co is for distribution in Taiwan. Pinnacle Tek will sell and market OrganoClick's products and distribute the products to the textile factories from its own stock and warehouse in Taipei. They will also provide technical support to the factories.
"The interest for eco-friendly chemistry is a fast growing trend in the Taiwanese textile industry. We are therefore happy to work with OrganoClick who are in the forefront regarding the development of green functional chemistries for textiles", says Eric Ying, Managing Director for Pinnacle Tek, Ph.D in textile technology and former President of the Taiwan Textile Federation.
"With distribution in place in Taiwan, we reach a large number of the textile factories that is sourced by western sport and outdoor brands. To be able to offer the textile factories an easy and quick delivery and technical support by a local partner is very important in order to get acceptance on the market. The cooperation that we have now started with Pinnacle Tek Co on the Taiwanese market and Shanghai Amazingtex Trading Co on the Chinese market give us a good platform for our market penetration. We will now continue our work to set up distribution networks in South Korea and Japan", says Mårten Hellberg, CEO OrganoClick.
OrganoClick AB (publ) is a public Swedish cleantech company listed on Nasdaq First North. The company develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are the water repellent fabric treatment OrganoTex®, the flame and rot-resistant timber OrganoWood® and biocomposite materials. OrganoClick was founded in 2006 as a commercial spin-off company based on research performed at Stockholm University and the Swedish University of Agricultural Sciences within environmentally friendly fiber chemistry. OrganoClick has won a number of prizes, such as "Sweden's Most Promising Start -up" and "Sweden's Best Environmental Innovation", and has also received a number of awards, such as the WWF "Climate Solver" award and has also appeared for two years on the Affärsvärldens and NyTekniks list of Sweden's top 33 hottest technology companies. OrganoClick has its head office, production and R&D located in Täby, north of Stockholm. OrganoClick's Certified Adviser on Nasdaq First North is Pareto Securities AB.