Trading ‘resilient’ says Victrex

VICTREX, the North West manufacturer of high performance polymers, says it remains confident on prospects after a “resilient performance” over the last four months.

The group headquartered on the Fylde coast said sales volumes since October 1 are up 2%.

Victrex, which is known for its polymers and biomaterials – which are used in the manufacture of heat-resistant plastics used in cars, aircraft and hip replacements, is a major exporter.

Chairman Anita Frew said: “”We are pleased to announce that, despite the continuing global economic challenges, both of our business units are showing resilience in trading so far this year.

“Whilst early in the financial year, we remain confident of the potential for growth in both business units as the year progresses.

“The company remains in an excellent financial position with a healthy balance sheet, strong cash generation and no significant changes in its financial position since 30 September 2012.”

Victrex’s polymer solutions division makes plastics for the transport, industrial and the electronics markets. Its Peek plastics are used as an alternative to metal in the automotive and aerospace sectors, whils its Invibio biomaterial solutions division produces materials used in joint replacement and medical implants.