Oxeon the fastest growing company in Sweden

Oxeon has been acknowledged as the fastest growing company in Sweden 2010 and has been awarded the Gazelle price “Supergasell” by Swedish financial newspaper “Dagens Industri”. The “Supergasell” is an annual award that recognizes the company that has shown the most exceptional growth and created new employment opportunities.

Oxeon develops, produces and markets Spread Tow carbon reinforcements to composite manufacturers looking for an optimized ultra light reinforcement solution.

Oxeon co-founders Dr. Nandan Khokar, Andreas Martsman and Fredrik Winberg received the prize at the “Supergasell” gala in Stockholm the 29^th of November.

Andreas Martsman, Vice President and head of business development, says that: “We are very proud of winning this award and we would like to thank everybody that has helped Oxeon throughout the years. This is a great proof that we have got a lot of things right during these initial years, and now we have to work hard to continue to grow”.

Oxeon’s product include TeXtreme® Spread Tow Fabric and TeXero® Spread Tow Tapes that are used for reducing weight and improving mechanical performance on composite products.

The advantages of TeXtreme® come from using two novel technologies. First tows are spread into thin flat tapes, and then Oxeon’s patented Tape Weaving Technology is used to weave the Spread Tow Tapes into a Spread Tow Fabric. The result is a fabric that is superior to conventional carbon fabrics in reducing weight and improving performance.

TeXtreme® is used by a majority of the Formula 1 teams, in aerospace, and in many sports & leisure applications such as ice hockey sticks and surfing boards.

About the “Supergasell” award

The term Gazelle was coined by economist David Birch in the 1980’s to describe small rapidly-growing businesses that are responsible for employment growth. Gazelles are distinguished from the Elephants, the large/huge businesses that strive for efficiency and thereby reduce job creation, and the Mice, businesses whose only aim is to create income and have no ambition to grow. To be entitled a Gazelle the business needs to fulfil the following criteria: turnover exceeding 10 million SEK; minimum of 10 employees; publicised four most recent annual reports; doubled, at a minimum, the turnover between the first and last financial year; increased turnover each year over the past three years; positive operating profit in past four financial years; and the business must demonstrate financial soundness and organic growth.