The PEEK manufacturer is planning a series of investments as sales grow

The PEEK manufacturer is planning a series of investments as sales grow

UK engineering polymer maker Victrex is preparing a new round of investments as a recovery in the electronics sector drives continues to drive growth.

The company’s first priority is to build a Ј4m (E6m) compounding plant to bring this process stage in-house. Carrying out the compounding of PEEK material at the Hillhouse site, near Blackpool, would improve quality and efficiency, the firm said. The unit is due to come on stream next year.

Victrex is also considering expansion of its 2,800tpa polymerisation capacity. The options under review include a 1,000tpa expansion to the current plant and a new standalone 2,000tpa facility. Chairman Peter Warry said this would either be in the UK or the Asia-Pacific region. “We expect to make a decision during 2005,” he said.

Victrex must also to decide on the future of a process stage in the manufacture of PEEK polymer feedstock, currently carried out by Degussa under a contract that expires in 2006. “We do not currently intend to extend this agreement,” Warry said.

Pre-tax profits were up by 15% to Ј13.8m (E20.7m) in the six months to the end of March on sales up 15% to Ј41.6m (E62.4m).