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Victrex has secured a £1.3m government grant to develop a polymer innovation centre at its site in Lancashire, which could create up to 80 jobs.

Victrex has won permission from Wyre Council to expand its PEEK chemicals plant in Thornton by 2015, with the creation of up to 20 jobs.

Victrex is to invest £90m in the development of a new PEEK polyaryletherketone production plant at its Hillhouse site in Lancashire by 2015.

Victrex is to build a new £6.5m office and laboratory at the headquarters of its polymers business in Thornton Cleveleys by July 2012.

Victrex is to invest £75m in the expansion of its thermoplastics business over the next three years, including a new £29m factory at its Thornton Cleveleys site in Lancashire.

Victrex has acquired an oxidation plant at Seal Sands in the north-east from Degussa for £16m, in order to secure the supply of the BDF raw material for the production of its Peek polymer.

Victrex is planning to expand its UK production capacity for high-performance plastic materials by 1,000 tonnes a year.

Victrex is considering plans to set up a new speciality plastics plant in China, and plans for a new UK plant would be dropped.