(Alliance News) - Xeros Technology Group PLC, a provider of water saving and filtration technologies, on Thursday said that it has inked a licensing agreement with Ramsons Garment Finishing Equipments Pvt Ltd, a garment finishing equipment supplier in South Asia. 
Shares in Xeros were up 12% at 0.55 pence each in London.
The agreement provides Ramsons with an exclusive license for the manufacture and sale of Xeros-enabled garment finishing and dyeing equipment in South Asia.
Under the agreement, Xeros will receive a royalty for each XDrum machine sold by Ramsons and a share of the multi-year annuity revenue, paid by the garment manufacturers, for the ongoing use of XOrbs.
Mark Nichols, chief executive of Xeros, said: "This agreement is our first in apparel production and it validates our efforts to prove that our innovative technologies can have a significant impact in the sector."
By Tapan Panchal; tapanpanchal@alliancenews.com
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