In a move that enhances its ability to provide complete and integrated solutions, PEEK specialist Victrex (Thornton Cleveleys / UK; www.victrex.com) has acquired US polymer gears producer Kleiss Gears (Grantsburg, Wisconsin; www.kleissgears.com). The USD 6m (EUR 5.5m) deal “demonstrates how we are moving further downstream to support our customers and our markets,” Victrex CEO David Hummel said. By combining Kleiss Gears’ design, testing and manufacturing capabilities with Victrex’s material technology, innovation focus and global commercial scale, customers are now able to procure integrated polymer-based gear capabilities.

Victrex said the purchase of the US group – which employs 26 workers and posted sales of USD 4m in 2014 – is in line with its aim to double the amount of PEEK used in cars in the medium term. Prior to the acquisition, the two companies had been partners for several years.

Victrex lifted group sales by 17% to 1,070 t in its third quarter (the company’s financial year ends on 30 September). By contrast, revenues were flat, reaching GBP 64.5m (EUR 92.7m), compared to GBP 64.2m during the same time last year. Volume sales for all three quarters combined came to 3,098 t, which translates into a 24% year-on-year rise. While its Victrex Polymer Solutions business continued to profit from consumer electronics demand, the Q3 performance of the company’s Invibio medicals division fell short of expectations – mostly as a result of the “continued effects of consolidation in the US medical device industry.”