March 4, 2019 / 9:54 AM / 5 months ago

BUZZ-Synthomer: Falls as Europe, North America markets weaken

** Shares of specialty chemical company down ~10 pct; falls to the bottom of the Midcap Index

** Co struggles in Europe and North America markets and was hit by currency transactional headwinds in 2018

** Blames the severe fall in raw material prices that affected customer buying behavior, leading to a softer trading environment in final quarter of the year

** Establishing a cross functional group to prepare for Brexit uncertainty to mitigate supply chain, regulatory risks

** Says political and economic uncertainties, like trade wars, Brexit, FX rates continue to impact commercial environment

** Shares of peer Victrex fall ~5 pct after Citi cuts to “sell” citing increasing competition

** Including Monday’s losses, stock has fallen ~24 pct in the last 12 months

Reporting by Karina Dsouza in Bengaluru

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