Xeros Tech Grp plc (LON:XSG) 10 year contract with 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.”

 


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