Shares in Zotefoams PLC (ZTF.LN) rose in early trade Wednesday as the company said it has entered a strategic partnership with Nike Inc. (NKE) to develop footwear technology and supply materials for the U.S. sportswear maker.
The U.K. foam manufacturer said it will supply high-performance foam materials exclusively to Nike within the footwear industry.
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Zotefoams will also work exclusively with Nike to develop and manufacture foam innovations for high-performance athletic products, the U.K. company said.
Shares in Zotefoams at 0827 GMT were up 59.75 pence, or 15%, at 461 pence.
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(END) Dow Jones Newswires
December 13, 2017 03:52 ET (08:52 GMT)