Under the agreement BBRG will use Applied Fiber's patented high capacity termination technology to produce high strength fiber rope assemblies for mining, offshore and industrial lifting markets.

Applied Fiber's solutions can replace steel cables on heavy machinery such as cranes, draglines and shovels with high-tech fibres, providing weight savings and drastically reducing vibrations which can significantly reduce maintenace work and therefore downtime.

BBRG supplies cord and rope products to the mining, offshore energy and industrial lifting sectors and has extensive expertise in synthetic ropes.

BBRG will incorporate Applied Fiber's capability within their manufacturing processes, and will drive the further adoption of high strength fibre ropes in key markets.

The parties will also collaborate to further develop the technology for new applications. 

BBRG is part of Bekaert, the Belgium-headquartered steel wire transformation and coating technologies group.

Applied Fiber chief executive Richard Campbell said: "Following many years of dedicated focus, we are pleased to launch our technology licensing model."

"With Bridon-Bekaert we are excited to welcome the world's premier rope maker as licensing partner. BBRG brings exceptional global reach and a broad in-house R&D capacity to further accelerate the market introduction of high capacity fibre rope terminations."