Latest news with #catalysttechnologies
Trade Arabia
22-05-2025
- Business
- Trade Arabia
Honeywell to acquire Johnson Matthey's catalyst business
Honeywell has agreed to acquire Johnson Matthey's Catalyst Technologies business segment for £1.8 billion ($2 billion), representing approximately 11x estimated 2025 EBITDA, inclusive of tax benefits and run-rate cost synergies. The combination of Johnson Matthey's Catalyst Technologies and Honeywell's Energy and Sustainability Solutions (ESS) business segment is expected to add attractive high growth vectors to the portfolio and drive significant additional benefits through cost synergies. The expanded portfolio will provide customers with a comprehensive solution for the production of lower emission, critical fuels, including sustainable methanol, sustainable aviation fuel (SAF), blue hydrogen, and blue ammonia. The acquisition is expected to be accretive to earnings in the first year and add attractive high growth vectors to Honeywell's ESS business. "The acquisition of Johnson Matthey's Catalyst Technologies business broadens Honeywell's role as a world-class technology provider of critical energy needed to drive growth into the future – further strengthening our model of combining process technologies and process automation," said Vimal Kapur, Chairman and CEO of Honeywell. "As demand for diversified sources of energy continues accelerating, we will better enable Honeywell to offer the innovation our customers need." Johnson Matthey's Catalyst Technologies business segment is a leading provider of catalyst manufacturing and process technology licensing. It has approximately 1,900 employees and is headquartered in London, United Kingdom, with sites in the US, Europe and India. "As we continue to expand and evolve our ESS portfolio, acquiring Johnson Matthey's Catalyst Technologies business will provide our customers a comprehensive and cost-effective approach to transition their businesses to high-value products with lower emissions," said Ken West, President and CEO of Honeywell's ESS segment. "Together, we will be able to create an integrated solution while also diversifying our UOP projects and service offerings to help our customers around the world continue innovating and driving energy security for the future."
Reuters
22-05-2025
- Business
- Reuters
UK's Johnson Matthey sells unit to Honeywell for $2.4 billion
May 22 (Reuters) - British chemicals firm Johnson Matthey (JMAT.L), opens new tab has agreed to sell its division that houses technologies to make sustainable fuels to Honeywell International (HON.O), opens new tab for 1.8 billion pounds ($2.4 billion), including debt. The unit, known as Catalyst Technologies, designs and manufactures catalysts for the energy and chemicals industries, used in the production of sustainable aviation fuel, fertilizers, paints, and other products. Once the sale is completed, Johnson Matthey expects to be streamlined and focussed on its businesses that make pollution filters for cars and processes platinum group metals. Standard Investments, one of its largest shareholders, urged the group last December to initiate a strategic review and overhaul its board. Johnson Matthey recently changed its finance head and launched a review of its executive pay. The deal is expected to generate net proceeds of approximately 1.6 billion pounds, the British company said, adding that around 88% of the amount will be returned to shareholders. ($1 = 0.7447 pounds)
