Victrex completes second PEEK line

Fri, 5 October 2007

Construction of Victrex’s second PEEK polymer plant at Thornton Clevelys, near Blackpool, has been completed and the company expects the unit to be fully operational by the end of the year.

Built at a cost of Ј32 million, the unit has a capacity of 1,450 tonnes a year; the expansion is being supported by an uprating of the supply chain for key raw material BDF under a Ј23 million project scheduled for completion in the autumn of 2008.

The UK company enjoyed record sales volume of just over 2,500 tonnes of the top performing engineering polymer in the year to the end of September despite a slower second half, it announced in a trading statement this morning.

Each of Victrex’s global regions saw higher PEEK sales for the year led by Asia Pacific, where volumes rose by 13% to 419 tonnes. Victrex achieved a 9% rise in the US with a figure of 724 tonnes while European levels were up by 4% at 1,196 tonnes.

Looking ahead, the firm says it sees opportunities to increases sales volumes and is looking forward to further progress being made.

Victrex shares, which rose sharply yesterday following a positive broker’s note, fell back slightly on this morning’s statement.