Victrex acquires manufacturer of PEEK based fibres for £10 million

10-Apr-17

Polymer specialist Victrex has acquired Gloucestershire company Zyex, a manufacturer of PEEK based fibres for the aerospace, automotive and industrial sectors, for £10 mln. The investment is in line with its downstream strategy and focus on selected semi-finished and differentiated products, based on PEEK and PAEK polymers This acquisition will enable Victrex to offer differentiated PEEK-based solutions to new markets, now strengthened with additional fiber products, application expertise and resources from the Zyex team to develop new and existing solutions for customers.

Zyex is a well-established and long-standing customer of Victrex and like Victrex, Zyex was formed out of ICI. Beyond opportunities from developing new and existing applications, the investment will also enable Victrex to explore the potential of additive manufacturing within the fibers area, building on the additive manufacturing consortium announced in 2016.? “The acquisition of Zyex is compelling for Victrex, enabling us to drive future growth opportunities within well-aligned markets and developing application areas,” says David Hummel, CEO of Victrex. “The company's capabilities and the teams' expertise will further complement our product offering. While Zyex is well-established, Victrex’s global reach, innovation focus and proven track record of building new markets offers an attractive opportunity to further develop the business over the coming years. This is in line with our strategy to offer selected and differentiated semi-finished product forms and parts for our customers, building on our core polymer offering.”