Victrex announces acquisition of minority interest in Magma Global

  • January 26, 2017
  • News
Victrex announces acquisition of minority interest in Magma Global
Victrex announces acquisition of minority interest in Magma Global

January 26, 2017 - 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.

 

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