To support identified programs in the industrial and medical sectors, Victrex will invest up to 15 million GBP (22.7 million dollars) in further downstream manufacturing to support PAEK Polymer opportunities and programs.
Victrex explains, as part of its 2015 financial results, it will build a new PEEK composite facility for unidirectional (UD) tape and add new manufacturing capability for medical trauma plate applications at its UK headquarters. Both investments tie-in with recent product launches and are intended to help deliver new solutions to customers – and to drive future growth programs.
According to Victrex, the new investments will further pave the way to meeting the increasing demandof existing and future customers. UD tape is being used for Victrex’s partnership with Magma Global, for an oil and gas program that focuses on m-pipe. Magma´s m-pipe is a high strength polymer carbon pipe which is 90% lighter than steel in water, is stronger than steel, and has a number of performance benefits, including being highly durable, corrosion resistant to seawater, CO2 and sour gas. M-pipe is flexible and spoolable, which offers the potential to reduce project cost. The m-pipeapplication has secured a number of development programs in 2015 with a diverse range of oil and gas operators. UD tape composites are also being used in aerospace applications following the launch in October 2015 of VICTREXAE250.
“To deliver solutions to our customers and consequently shape future performance means continued investment to drive our future growth programs. This includes the technical, marketing, quality, and regulatory functions,” said Victrex´s Chief Executive, David Hummel.
These investments also include capital expenditure for the company’s Polymer Innovation Center, which it expects will deliver prototyping and application development excellence. The new facility, which is due to start construction in early 2016, will help Victrex research and test many of its new downstream applications in the years ahead, allowing the company to enhance its capabilities as a solutions provider.