Polyex buys into Stereon polycarbonate business

Hull based Victoria Plastics Ltd trades as Stereon and was formed by a management buy-out of the company from GE in 2003. They have an impressive track record within the multiwall polycarbonate industry and support an extensive and diverse nationwide customer base which includes home improvement giant Wickes. Adrian Titmus, Managing Director of Stereon will continue to run the company.

Polyex Managing Director Roger Hartshorn said:

‘We are proud to welcome Stereon to the Polyex group and see this as a major step towards building a truly national distribution network. We believe that all our customers will benefit from being served by a larger group with additional cut-to-size resource being added to our existing manufacturing capability. We now have more flexibility capacity across our product range and the ability to justify even greater investment to maintain our position as technology leaders in the market’.

Victoria Plastics Ltd Managing Director Adrian Titmus said:

‘We are hugely excited by the possibilities that being part of the Polyex group brings. In a market as competitive as ours it is vital that we are able to offer our customers the levels of service and value that can come from being closely linked to an independent manufacturer.

‘We are pleased to report that since Polyex started trading earlier this year, sales and market share have been running above forecast and we feel that we have made a strong start. However margins remain under pressure due to dramatic increases in polycarbonate resin prices due to increases in the cost of crude oil and global demand for other applications.’

Polyex Ltd was formed in 2002 by Roger Hartshorn and Mike Bosworth (founders of the Fairbrook Group which includes Eurocell) with production commencing in 2003. It already supplies two of the larger systems companies with multi-walled polycarbonate extruded profiles.