Umicore lowers profit forecast as chip shortage bites
- Cuts 2021 core profit outlook
- Lowers expected sales volumes for cathode materials
- Postpones start of new Polish cathode material plant
- Shares down about 4%
Oct 18 (Reuters) – Belgian materials technology and recycling group Umicore (UMI.BR) made a downward revision revised to its profit outlook on Monday to reflect a stronger than previously expected impact from the global semiconductor shortage and lower prices for platinum group metals (PGMs).