Applied Graphene inks distribution agreement with Manho Polymers

Graphene additives producer Applied Graphene Materials has signed a distribution agreement with South Korean firm Manho Polymers in order to further extend its commercial focus directly into the coatings and polymers sectors across the country.

Applied Graphene said on Monday that the new agreement enabled it to access the fourth largest coatings market in the Asia region, estimated in 2018 to be producing in excess of 900.0m litres of paint annually, with a market value of over $4.6bn per year.

The two companies will collaborate on customer opportunities and introduce AGM's proprietary Genable graphene dispersions technology into the South Korean coatings and broader liquid resins markets.

Chief executive Adrian Potts said: "The agreement with ManHo Polymers in South Korea represents further major progress in the development of our global network of specialist distributors to our key customer market sectors.

"We look forward to working closely with ManHo Polymers to ensure their success in the significant South Korean market as they create opportunities for our products in the high-performance coatings and polymers spaces."

As of 1130 GMT, AGM shares were up 1.52% at 40.10p.