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BUZZ-Essentra: Stock falls as oil & gas slump hurts co's unit

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) in Essentra (Other OTC: FLRAF - news) suffer biggest one-day fall since August 2011 after one of its units flags concerns arising from lower rig count in the U.S and reduced demand

** Stock top loser on the London Stock Exchange (Other OTC: LDNXF - news) , down 8 pct

** Co says its pipe protection technologies business, part of its specialist technologies unit, severely impacted by developments in the oil and gas industry

** Huge decline in North American rig count resulting in reduction in drilling activity and demand from pipe mills hurt like-for-like revenue, which fell 63 pct

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** Co earned 70.5 mln stg revenue out of its total of 550 mln stg from the specialist technologies division

** Essentra's unit Specialist Technologies counts oil and gas, construction as one of its primary end-markets (aashika.jain@thomsonreuters.com)