Victrex plc. ([[VTXPF]], [[VTXPY]]) is a small British specialty chemical maker with a good moat. It is conservatively run and financed so is durable, although its business cycle is not always smooth.
A Profitable Niche
Victrex was born out of a specialty chemicals unit of the former behemoth Imperial Chemical Industries. It is an acknowledged leader in the production of certain types of polymer. Its manufacturing base is in the U.K., and China, but has a global customer base; 98% of sales are outside the U.K. The applications vary but tend to be focused on