HERZOGENAURACH (dpa-AFX) - German sportswear maker PUMA SE (PMMAF.PK, PUMG.DE, PUM.DE) Wednesday said that it has signed an agreement with China-based Shincell New Materials Co. Ltd. to research and develop the next generation of its performance running technology, NITRO.
Under the partnership, PUMA said that the two companies will establish a dedicated laboratory in Suzhou, China, with the focus on testing and advancing new materials. PUMA added that it plans to launch the first products resulting from this collaboration in the coming seasons.
Originally introduced in early 2021 as part of a strategic repositioning of PUMA's performance running category, NITRO is designed to be exceptionally lightweight and responsive, enabling runners to expend less energy while maintaining comfort.
Beyond running, PUMA said that the NITRO technology is also integrated into selected products across its Training, Football, Basketball, Golf, and other performance segments.
On the OTC Markets, PMMAF.PK ended Tuesday's trading at $25.28.
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