Victrex announces acquisition of minority interest in Magma Global

Victrex and Magma Global are continuing to build their strategic partnership targeted at the oil and gas industry. Following the joint development of Magma carbon composite m-pipe utilizing VICTREX PEEK, Victrex recently invested in a minority interest in Magma to further facilitate the adoption of its m-pipe for subsea applications. The investment is in line with Victrex´s strategy to create future value through innovation and further differentiation into selected semi-finished and finished products, in addition to supplying the core polymer. The innovative m-pipe technology is expected to reduce exploration and production costs and risks for demanding subsea applications – and is also the subject of a free webinar covering engineering, performance and commercial benefits. Continued progress of the company last year also included the launch of a rental system for hydraulic pumping for intervention, early production and temporary riser replacement, consisting of m-pipe with an Integrated Deployment Package and crew.