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BUZZ-Victrex: slumps 5.5 pct as competitor Solvay steps up expansion

Reuters - UK Focus

** Specialty plastics maker's shares tests lowest levels this year after competitor Solvay (LSE: 0NZR.L - news) announced it was building a new PEEK polymer plant in the U.S.

** Victrex (LSE: VCT.L - news) stock top FTSE Midcap loser and biggest drag on the FTSE 350 chemicals index

** The core of Victrex' product line, PEEK polymers are lightweight plastic compounds that are used in aerospace, oilfields and automobiles

** Stock poised for biggest drop in more than 3 years

** There is incremental cause for concern following Solvay's announcement, Morgan Stanley (Xetra: 885836 - news) notes, adding that PEEK's high margins, growth and returns will trigger more investment from competitors

(venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)