VICTREX
Third PAEK production plant under construction / GBP 90m investment / Sales volume at record level / Strong business confidence
High performance polymer manufacturer Victrex (Thornton Cleveleys / UK; www.victrex.com) has started construction of a third manufacturing plant for PAEK polymer at its Hillhouse headquarters in Thornton Cleveleys. When operational in early 2015, it will increase its annual capacity for PAEK by 2,900 t, to more than 7,000 t. The total capital cost, including all related utility systems and infrastructure, is expected to be GBP 90m (EUR 112m). The investment will be funded out of operating cash flow.
Victrex announced the investment when presenting its year-end trading statement of 4 October. Sales volume over the 12 months to 30 September 2012 continued its positive trend, the company said, adding that H2 volume was 7%, or 101 t, ahead of the same period last year, at 1,527 t. This growth, according to Victrex, reflected strong new business commercialisation in its Polymer Solutions business. The first-half volume figure in 2012 had been notable for a decline compared with the previous year, despite a record second quarter – see Plasteurope.com of 11.04.2012. Full volume for 2012 increased to a new record of 2,904 t, up 1.5% from 2,860 t in 2011.
Full year revenue in the Invibio Biomaterial Solutions business was GBP 50.5m (EUR 62.9m), up 1.6% on financial 2011. Sales into the spine market were broadly in line with the prior year, reflecting de-stocking at a select number of customers over the summer in response to the continued uncertainty in the US medical device industry. Revenue from developing markets outside of spine grew by 11%, predominantly in arthroscopy.
Looking ahead, the initial sales volume order book for October is encouraging. Whilst appreciating the uncertain economic conditions, Victrex says its confidence in the business’ growth potential through the development of new applications and markets remains strong.
Two personnel changes at Victrex are the appointment of Tim Cooper, managing director of its Polymer Solutions business, as an executive director of the company, and the resignation, for personal reasons, of Hichem M’Saad, managing director, Invibio. Chief executive David Hummel will now lead the Invibio management team.
Victrex will announce its results for the year ended 30 September 2012 on 11 December.
Victrex announced the investment when presenting its year-end trading statement of 4 October. Sales volume over the 12 months to 30 September 2012 continued its positive trend, the company said, adding that H2 volume was 7%, or 101 t, ahead of the same period last year, at 1,527 t. This growth, according to Victrex, reflected strong new business commercialisation in its Polymer Solutions business. The first-half volume figure in 2012 had been notable for a decline compared with the previous year, despite a record second quarter – see Plasteurope.com of 11.04.2012. Full volume for 2012 increased to a new record of 2,904 t, up 1.5% from 2,860 t in 2011.
Full year revenue in the Invibio Biomaterial Solutions business was GBP 50.5m (EUR 62.9m), up 1.6% on financial 2011. Sales into the spine market were broadly in line with the prior year, reflecting de-stocking at a select number of customers over the summer in response to the continued uncertainty in the US medical device industry. Revenue from developing markets outside of spine grew by 11%, predominantly in arthroscopy.
Looking ahead, the initial sales volume order book for October is encouraging. Whilst appreciating the uncertain economic conditions, Victrex says its confidence in the business’ growth potential through the development of new applications and markets remains strong.
Two personnel changes at Victrex are the appointment of Tim Cooper, managing director of its Polymer Solutions business, as an executive director of the company, and the resignation, for personal reasons, of Hichem M’Saad, managing director, Invibio. Chief executive David Hummel will now lead the Invibio management team.
Victrex will announce its results for the year ended 30 September 2012 on 11 December.
08.10.2012 Plasteurope.com [223527-0]
Published on 08.10.2012
German version of this article...