news
Victrex takes stake in sub-sea pipe partner
Victrex has strength- ened its strategic partnership in compos- ite pipe for the oil and gas industry, by investing £10m in its development partner, Magma Global. It follows Magma’s
launch last year of its M-Pipe, which uses Victrex Peek. The technology is expected to reduce exploration and production costs and risks for demanding subsea applications. “Our strategic relationship
subsea operations,” said James Simmonite, energy director at Victrex.
The need to operate
at greater depths, with sour service demands, and under higher pressures and tempera- tures, has made a metal replacement for subsea piping an urgent priority
with Magma Global will help to further facilitate the industry’s move into a new era of enhanced capabilities, coupled with reduced costs, in extreme
for the industry, says Victrex. According to its annual
report, Victrex sold more than £1m of Peek to Magma in 2016. ❙
www.victrex.com
EBRD funds Turkmen plastic plant
The European Bank for Reconstruction and Development (EBRD) is to fund Turkmenistan’s first producer of PVC door and window profiles, providing a $3.5m loan to local company Turkmen Penjire. Production will start this year, with an annual output of 3,000 tonnes. The project will help to
replace a large share of the profiles that are currently imported from Turkey, Iran and China. ❙
www.ebrd.com
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The BulletThe Bullet®
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