Victrex to Build Polymer Innovation Centre
Victrex plc, Thornton Cleveleys, UK, a global world provider of high-performance polyaryletherketone (PAEK) polymers, is planning to increase its global technology leadership with the construction of a major Polymer Innovation Centre in northern England.
Financial assistance for the project has come in the form of GBP 1.3 million in grant funding from the UK government’s Regional Growth Fund, subject to satisfactory due diligence, which recognizes the vital, rapidly accelerating importance of high-performance polymers in the global marketplace.
High-performance polymers based on polyaryletherketones (PAEK), including Victrex PEEK, are increasingly being sought out for demanding applications in industry sectors that include aircraft, consumer electronics, automotive, energy and medical. Victrex is helping manufacturers to meet the need for demanding, more efficient processing techniques, in order to save costs and speed up time-to-market. In a fast-moving market which thrives on continuous advances in Research & Development (R&D), the planned Polymer Innovation Centre will increase capacity to turn lab concepts into real-world solutions and processes that can sustain mass production. The facility will enable the scaling up of new products and applications to full commercialization for Victrex's global customers.
Victrex has always maintained a relatively large investment in R&D and the Polymer Innovation Centre will sustain that theme. In 2014, Victrex invested over GBP 15 million, 6% of sales, into its R&D programmes. The new investment, together with funding from the UK government´s Regional Growth Fund, will build on that record, whilst also recognizing the future jobs potential for the north-west of England, where Victrex’s headquarters are based. The project is expected to help in the creation of over 80 direct and indirect jobs over the next 10 years and could ultimately see a total GBP 16 million investment.
Victrex Europa GmbH
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