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Gloucestershire Business News

Cheltenham-based manufacturing firm agrees partnership with global textiles giant

Advanced materials producer Versarien have announced they have signed a commercial partnership agreement with textiles and apparel giant MAS.

The two firms have been collaborating since January 2018 to develop new garments using Versarien's proprietary graphene ink materials.

In an announcement to the Stock Exchange, the Cheltenham-based firm confirmed that it had now become a formal commercial partnership.

MAS is a holding company for a portfolio of textile and apparel manufacturing businesses with a combined revenue in excess of $2billion.

The Sri Lanka-based group is also the largest apparel and textile manufacturer in Asia and has 53 manufacturing bases in 16 countries across the planet.

Neill Ricketts, CEO of Versarien, commented: "We are delighted to have secured a commercial partnership with MAS, a global apparel manufacturer at the forefront of innovative garment manufacture.

"The is the first demonstration of our graphene commercialisation strategy with a major global partner moving from the stage of having a collaboration agreement, through signing a letter of intent, to entering into a full commercial partnership agreement.

"We look forward to working with MAS and its customers to bring innovative graphene enhanced garments to the global marketplace."

Versarien and MAS have been collaborating since signing a collaboration agreement, as announced on 8 January 2018, to develop new garments.

Wearer trials conducted and rigorous testing carried out by a leading UK accredited test house.

The Agreement allows both parties to finalise additional contractual terms with third party brands.

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