Flexible Solutions International (FSI) shares were up nearly 42% in recent trading Thursday after saying it entered a five-year contract to manufacture food-grade products for a US-based company.

The non-exclusive contract will renew for up to five years automatically unless any of the parties issues a non-renewal notice, the company said. The identity of the client was not disclosed.

The company projected annual revenue ranging from $15 million to $30 million or above from the contract.

Flexible Solutions makes biodegradable polymers.

Price: 5.23, Change: +1.54, Percent Change: +41.84