TAGS: Marine / Protective Coatings
I-Tech signs a license agreement with International Paints Korea, a subsidiary of AkzoNobel under AkzoNobel Protective Coatings, an antifouling supplier in South Korea, for commercial use of Selektope®.
I-Tech now has a commercial deal with five major paint manufacturers operating in the important South Korean market, which alone accounts for about one-third of the global newbuilding market of all ships.
Successfully Combating Marine Fouling of Barnacles
The agreement concerns the use of I-Tech’s antifouling substance Selektope® in upcoming commercial antifouling products, specifically for the South Korean market. The product is expected to be launched in 6-12 months. When the new product is launched, I-Tech’s proprietary antifouling substance Selektope® will be used by a total of six of the largest paint manufacturers supplying paint to the South Korean shipbuilding industry.
I-Tech’s proprietary antifouling substance Selektope® has proven to be very successful in combating marine fouling of barnacles on ships. Earlier this year, I-Tech AB was able to show that the hospital ship Global Mercy, whose hull was treated with Selektope®, remained free from barnacle growth even after being laid idling for 22 months in warm waters.
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The agreement once again proves Selektope®´s very strong position in the global antifouling industry. That we deliver our substance to so many of the paint manufacturers active in the South Korean market is a very good testament to our product and something that benefits our continued global expansion,” said Philip Chaabane, chief executive officer, I-Tech.
Among other producers that manufacture antifouling paints containing Selektope® for the South Korean market are Chugoku Marine Paints, Jotun, and Hempel. In connection with the report for the second quarter of this year, I-Tech reported a total sale in South Korea of more than 32 million SEK, which was an increase of 147 percent compared to the corresponding quarter of 2022.
Source: I-Tech