Synthomer facing EU investigation

Specialist chemical manufacturer Synthomer (LON:SYNT) has announced that it is under investigation as part of a wider European Commission anti-trust inquiry related to the purchase practices for Styrene monomer within the European Economic Area. Styrene monomer is used a base material for a wide range of chemical products.

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As a result, the Commission has visited Synthomer’s London office and management said that they take the matter seriously and are cooperating fully with the investigation. Shares in the business dropped significantly in early trading, but closed the day fractionally positive at 541.50p.