The Alexium International Group Ltd (ASX: AJX) share price has posted another strong gain today.
With the specialty chemicals company’s shares up 7% to 62.5 cents today, they have now gained over 21% just this week.
Why have they surged higher?
On Thursday Alexium International announced strong demand from the mattress industry for its Alexicool product.
Alexicool is a phase change material that makes fabrics that ordinarily retain heat, feel cool to the touch.
According to the release, sales into the mattress industry continue to trend upwards. So far this month sales have exceeded those of May and will be the company’s eighth consecutive record month of sales.
Shipments of Alexicool chemistry for June are expected to exceed 90,000kg. An eight-fold increase over monthly shipments in January.
This growth looks set to continue with the first shipment of Alexicool to the world’s largest producer of mattress fabrics due next month.
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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.