Flexible and spoolable pipe for Magma © Victrex
To support identified ‘mega-programmes’ across the industrial and medical sectors, Victrex has announced it will invest up to 15 million GBP in further downstream manufacturing.
The global PAEK-based solutions provider announced during its 2015 financial results that 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, it says, tie-in with recent product launches and are intended to help deliver new solutions to customers – and to drive future growth programmes.
Victrex says the new investments will further pave the way to meeting the increasing demand of existing and future customers. Unidirectional (UD) tape is being used for Victrex’s partnership with Magma, an oil and gas ‘mega-programme’ that focuses on m-pipe1. Magma´s m-pipe is a high strength polymer carbon pipe which is 90 percent 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.
“To deliver solutions to our customers and consequently shape future performance means continued investment to drive our future growth programmes. This includes the technical, marketing, quality and regulatory functions,” said Victrex´s Chief Executive, David Hummel.
In trauma, Victrex will continue to invest in specific downstream manufacturing facilities during 2016. Trauma plates, for example, composed of the high-performance composite, PEEK-OPTIMA Ultra Reinforced, are delivered by Victrex´s medical division, Invibio Biomaterial Solutions (Invibio). Cleared regulatory device predicates in the US and Europe enable medical device manufacturers to more easily expand their trauma range beyond metal technologies.
Hummel added: “We are particularly encouraged by the opportunity in this market. Downstream manufacturing capability of trauma plate components will enhance our offering, enabling us to have the ability to meet initial demand.”
These new investments also include capital expenditure for the company’s Polymer Innovation Centre, which will deliver prototyping and application development excellence for Victrex. 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.
1m-pipe is a registered trademark of Magma Global Ltd