Johnson Matthey says it is buying US-based catalyst maker Cormetech in a deal valued at up to £343 million. The company announces the acquisition as part of its expansion plans tied to growing demand in the US for power generation and related industrial applications. The Independent reports that Cormetech has been expanding in the US power generation market, which Johnson Matthey cites as a key part of the rationale for the purchase.
The reported terms describe a maximum consideration figure, but do not provide further breakdown details in the information provided here. Overall, both outlets frame the announcement as a strategic move by Johnson Matthey to add capabilities and market reach in the United States, particularly where demand is being supported by energy and data-centre-related trends. The acquisition is presented as prospective and contingent on completion, with the focus on strengthening Johnson Matthey’s position in catalyst products used in industrial processes.
