Nitrogen+Syngas 396 Jul-Aug 2025
23 July 2025
JM to sell its Catalyst Technologies business
Johnson Matthey Plc (JM) says that it has reached an agreement to sell its Catalyst Technologies (CT) business to Honeywell International, Inc. for £1.8 billion ($2.45 billion) on a cash and debt-free basis. The transaction is expected to deliver net sale proceeds of around £1.6 billion ($2.18 billion) to the JM group, subject to customary closing adjustments. Following the sale of CT, JM says that it will be repositioned as a highly streamlined group focused on clean air and platinum group metal sales, supporting the delivery of at least mid-single digit CAGR over the next few years with a material increase in Group cash generation to at least £250 million of Group free cash flow by the 2027-28 financial year, underpinned by growth in underlying operating profit, capex reducing to close to maintenance levels and material working capital benefits.
Patrick Thomas, Chair of Johnson Matthey, said: “On behalf of the board, we are pleased to announce the sale of CT, which, together with the refreshed strategy of the Group, represents a strategically and financially compelling proposition for shareholders. Today’s transaction realises significant value for shareholders, creating a Group with the core strengths, focus and discipline to deliver strong returns for shareholders into the future.”
