Victrex buys polymer manufacturer to explore 3D priniting

Polymer maker Victrex has bought Zyex, a manufacturer of polyetheretherketone (PEEK) based fibres for the aerospace, automotive and industrial markets, for £10m in order to explore 3D printing capabilities.

The acquisition is part of the FTSE 250 company’s strategy to focus on selected semi-finished and differentiated products based on PEEK and polyaryletherketone (PAEK) polymers.

Zyex is based solely on PEEK products and the acquisition will enable Victrex to explore 3D printing with fibres, building on its own 3D printing consortium.

Last May, Victrix announced that it was heading a consortium of companies to develop PAEK for a range of 3D printing processes with funding from government agency Innovate UK.

Victrex was formed following a management buyout from Imperial Chemical Industries (ICI), a now defunct chemical company, in 1993 while Zyex began as a business unit of ICI Fibres in the mid-1980s.

Victrex chief executive David Hummel said: "The acquisition of Zyex is compelling for Victrex, enabling us to not only drive future growth opportunities within well-aligned markets and developing application areas, but to also secure some incremental revenue today.

"Like Victrex, Zyex was formed out of ICI and the two companies coming together is a natural evolution. Whilst 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.”