Arrow Coated Products announced that it has entered into an exclusive long-term collaboration agreement for supply of the chemicals and technology required for commercial success of Arrow Care's KLENZ brand of cleaning products.

Careli SA is a Spanish chemical company located in Catalunya, manufacturing a wide range of products including liquid formulations for fabric washing, automatic dish washing and surface cleaning. This collaboration is perceived to be win-win for both corporations.

Neil Patel, director of Arrow Coated said, "Arrow, being a premium manufacturer of water soluble films (WSF), saw an opportunity to push this economically viable solution for the Indian market, which will be welcome by Indian citizens and our Swachh (Clean India) vision. The development of the right quality of WSF which is compatible with Careli chemistry is the key to this project."

Shares of the company gained Rs 23.25, or 5%, to trade at Rs 488.70. The total volume of shares traded was 12,524 at the BSE (3.44 p.m., Wednesday).