This paper reviews properties, performance, processing conditions and applications of a new high performance plastic developed in Great Britain. The polymer is obtained through condensation polymerization of aryl-alkyl ether and phenol. Curing is carried out by heating with hexamethylenetetramine. Optimal molding conditions are given along with a list of fillers used for making reinforced compounds with improved mechanical properties. Applications include - bearings, electrical and electronic engineering, construction building elements, automobile parts, chemical equipment, etc.