6th Sep 2005 07:00
Victrex PLC06 September 2005 VICTREX PLC SECOND VICTREX(R) PEEK(TM) POLYMER PLANT & TRADING UPDATE The Company announces that it has placed the contract for engineering,procurement and construction management of a second VICTREX PEEK polymer powdermanufacturing plant on its main UK site at Thornton Cleveleys, Lancashire. Withan estimated capital cost of £29m, the new plant will have the capacity tosupport an additional 1,450 tonnes per annum of VICTREX PEEK sales. Constructionis scheduled to commence in spring 2006 with completion expected in late 2007. David Hummel, Chief Executive of Victrex plc, commented: "The construction of a second polymer plant will allow us to meet our mediumterm growth expectations and demonstrate further security of supply to ourcustomers." Trading Update Sales volume has remained strong in the second half and is expected to bebroadly in line with the 988 tonnes achieved in the first half. Invibio, ourmedical implant materials business, has performed ahead of expectations and wenow expect that its sales revenue will be broadly in line with the first halfperformance of £5.4m. As a result, Group gross margin for the full year shouldbe similar to the first half. The annual trading update for the year ended 30 September 2005, disclosingactual sales volume, will be made on Thursday 6 October 2005. - Ends - For further information please contact: Victrex plc 01253 897722Michael Peacock, Finance DirectorHogarth Partnership Limited 0207 357 9477Nick Denton / Barnaby Fry Victrex plc is an innovative, world leader in high performance materials throughthe manufacture of Victrex (R) PEEK(TM) polymer. It has manufacturing plants and research facilities in the UK and a globalnetwork of sales and distribution centres serving customers based in over 30countries. Victrex PEEK is a high performance, easy to process, thermoplastic with a uniquecombination of properties including exceptional chemical, wear, electrical andtemperature resistance combined with dimensional stability. These properties enable engineers to deliver cost effective and improvedcomponents across a broad range of markets in every day life applications suchas heating and cooling systems, coffee machines, cars, microchip manufacture,aeroplanes, mobile phones and surgical instruments. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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