Previously listed as Yule Catto under the ticker YULC, changes it's name to Synthomer which is considered to be a more recognisable corporate name globally.

"Synthomer is one of the world’s major suppliers of latices and speciality emulsion polymers supporting leadership positions in many market segments including coatings, construction, textiles, paper and synthetic latex gloves. The company has its headquarters in Harlow, UK and provides customer focused services from operational centres in Marl, Germany and Kuala Lumpur, Malaysia."

StockMarketWire.com
Chemicals group Synthomer said its expectations for the full year remained unchanged after third-quarter volumes in the US and Europe fell but margins improved.

The company also announced a restructure, effective 1 January, that would see it create three business units: performance elastomers, functional solutions and specialities.

In the three months through September, volumes in Europe and North America were slightly lower on-year, excluding volumes associated with the recently-acquired Pischelsdorf business.

Unit margins, however, were slightly higher, with all segments apart from paper rising, reflecting further investment and increased efficiencies.

In Asia and the rest of the world, the company said nitrile latex volumes were slightly ahead of a strong comparative period.

Unit margins were also higher and in line with unit margins in the first half of 2018.

'Synthomer's product and geographic diversity means that we are well positioned to withstand the challenging macroeconomic and political environment and, along with the good performance in the first nine months of the year, the board's expectations for full year 2018 remain unchanged,' the company said.

Deutsche Bank today reaffirms its buy investment rating on Synthomer (LON:SYNT) and cut its price target to 500p (from 645p).