Johnson Matthey Plc
Company Profile
Business Overview
-The Company is an international specialty chemicals company aimed at promoting sustainability. Its principal activities involve developing catalysts for reducing vehicle emissions, efficiently processing, and transforming natural resources such as oil, gas, biomass, and platinum group metals, and focusing its development on emerging market opportunities including hydrogen and fuel cell technologies.
-For the fiscal year ended March 31, 2023, the Company is organized into 5 operating segments:
- Clean Air: The segment provides automotive catalysts to remove pollutants and emissions from vehicles.
- PGM Services: The segment recycles platinum group metals and supports the Company’s other segments by supplying them with necessary materials.
- Catalyst Technologies: The segment focuses decarbonizing the chemical industry and help create sustainable fuels.
- Hydrogen Technologies: The segment provides catalyst coated membranes that are a critical component for fuel cells and electrolyzers.
- Value Businesses: A portfolio of businesses are not within the core portfolio, including Battery Systems, Medical Components and Diagnostic Services.
Competitors
| Clean Air | PGM Services and Catalyst Technologies | Value Businesses |
| -BASF -Cataler -Umicore |
-Haldor Topsoe -Clariant -BASF -Lurgi -Albemarle -Grace -UOP -Heraeus -Umicore -Ferro -DuPont |
-Heraeus -Umicore -BASF -LG -BMZ -WL Gore -3M -Evonik |
Shareholders
| -The Company is listed on the London Stock Exchange. | (As of Mar. 31, 2023) |
| Shareholding category | Shareholding (%) |
| Investment and unit trusts | 51.97 |
| Pension funds | 11.66 |
| Individuals | 0.04 |
| Custodians | 9.60 |
| Insurance companies | 6.02 |
| Sovereign wealth funds | 2.57 |
| Charities | 0.18 |
| Other | 17.96 |
| Total | 100.00 |
Products
Emission Control Technologies
-2-way oxidation catalysts
-Three-way Non-Selective Catalytic Reduction (NSCR) catalysts
-Selective Catalytic Reduction (SCR) catalysts
-Selective Catalytic Reduction systems with a soot filter
-NOx adsorber catalysts
-Diesel Particulate Filters (DPF)
-Gasoline particulate filters
-Cold start catalysts
-Selective Catalytic Reduction (SCR) combined with Continuously Regenerating Trap (CRT) systems
-Diesel Oxidation Catalysts (DOC)
-Three-way catalysts
-Three-way filters; gasoline particulate filter with catalyst coating
-Catalyzed soot filters
-Selective catalytic reduction filters
-Ammonia slip catalysts
-4-way diesel systems
-Palladium nitrate solutions for catalysts
-Platinum nitrate solutions for catalysts
-Rhodium nitrate solutions for catalysts
-Tetrammine palladium nitrate solutions for catalysts
-Tetrammine palladium hydrogen carbonate for catalysts
Precious metal products
-Metals and alloys for wires in the following components
- Spark plugs
- Airbag initiators
- Temperature sensors
- Other sensors
-Mineral insulated metal sheathed thermocouples
-Thermocouple wires
Alternative Powertrains
-Fuel cell catalysts
-Membrane Electrode Assemblies (MEA)
-Fuel processor catalysts
-Catalyst coated membranes (CCM)
-Fuel cell recycling
Supplemental Information 1
M&A |
|
| 1980 | Acquired the following companies for approximately GBP 8 million: WSA Engineering Ltd. (now operated as WSA Components L7td.); Star-Link Chains Ltd.; Max Marx Color and Chemical Co.; Burrell & Co. Ltd.; Eagle Transfers Ltd.; National Screenprint (Pty.) Ltd.; and Applied Thermal Systems Inc. |
| Apr. 1981 | Acquired Catamore Co. |
| 1982 | Acquired the following companies for approximately GBP 15,000,000: Wallace Brothers Commodities Ltd., (London and New York); Palmer Research Ltd.; G.K. Rowley; International Electrolytic Plant Co. Ltd.; Micro-Weld Ltd.; Holland Colours-Apeldoorn BV, (50%); Deco Mail Siebdrucktechnik GmbH, (90%); Spectrum Screenprint (Pty.) Ltd.; The Catamore Co.; 80% voting control in Sarah Coventry, Inc.; Rembrandt Jewelry Mfg. Ltd.; Falco Jewel Industries Inc.; the materials division of AVX Corporation; and certain assets of Etablissements Roques SA (now Roques Chimie SA). |
| Dec. 1982 | Acquired Hinton Hill Group Ltd. for 184,029 common shares. |
| Oct. 1984 | Disposed of Johnson Matthey Bankers Ltd. to the Bank of England. |
| 1989 | Acquired Cominco Electronic Materials and Alfa Catalog Chemicals for a total purchase cost of GBP 22,000,000. |
| Jun. 1990 | Acquired Deak International's precious metal refining and fabrication business in Australia and New Zealand for AUD 12,000,000. |
| 1991 | Acquired a controlling interest in Svenska Emissionsteknik AB (Sweden). |
| 1991 | Disposed of its 25% holding in Tanaka Matthey KK (Japan). |
| Mar. 1992 | Acquired the business of Josiah Cox Ltd. for a cash consideration of GBP 400,000,000, including goodwill of GBP 200,000. |
| Oct. 1992 | Acquired The Alta Group Inc. |
| Jan. 1994 | Sold its United Kingdom and Irish Jewellery business to Cookson Group plc. |
| 1994 | Purchased additional shares in Svenska Emissionsteknik AB for a consideration of GBP 1,000,000, increasing its shareholding in Svenska's ordinary shares from 62% to 83%. |
| Oct. 1995 | Completed the merger of a subsidiary of Johnson Matthey into Advance Circuits. Advance Circuits is now a wholly owned subsidiary of Johnson Matthey. Each former share of Advance Circuits has been converted, subject to dissenters' rights, into the right to receive USD 22.50 in cash, without interest. Advance Circuits, Inc. is a leading interconnect solution provider whose products include complex multilayer printed circuit boards, flexible circuit assemblies, semiconductor packages and other manufacturing services. |
| Mar. 1996 | Acquired the PCB factory and related assets of Cray Research Inc. for a consideration of GBP 26,400,000. Under the terms of the transaction, Johnson Matthey acquired land, buildings, plant and machinery and inventory, together with a highly skilled workforce of some 350 people. The purchase stems directly from Co.'s USD 170,000,000 acquisition in September 1995 of Advance Circuits Inc. (ACI), a market leader in both high-technology PCBs and the emerging field of plastic laminate packaging for semiconductors. |
| Jun. 1996 | Acquired the business of Technologia Electronica De Juarez for consideration of GBP 100,000. |
| Dec. 1996 | Disposed of its 49% interest in Matthey Rustenburg Refiners (Pty.) Limited at a book value of GBP 2,600,000. |
| Dec. 1997 | Purchased a further 30% of Johnson Matthey HICOM Sdn.Bhd. for GBP 0.8 million, increasing the groups holding to 80%. |
| Jan. 1998 | Acquired the printed circuit board operations of Universal Circuits Inc. for GBP 0.3 million. |
| Feb. 1998 | Acquired the 50% of Cookson Matthey Ceramics plc (CMC) which it did not already own from Cookson Group plc for GBP 65 million. |
| Mar. 1998 | Sold Otavi Minen AG for GBP 21.2 million. |
| Jun. 1998 | Sold its UK Mineral business for GBP 5.0 million. |
| 1998 | Disposed of part of its investment in AnorMed Inc. reducing its holding from 40% to 25%. |
| Feb. 1999 | Acquired the testing facility business of Watson Engineering Testing Development Inc. for GBP 6.5 million. |
| Apr. 1999 | Acquired the remaining 50% interest in Ryoka Matthey Corporation for GBP 2.8 million. |
| Jun. 1999 | Sold Ryoka Matthey Corporation as part of the electronic Materials disposal. |
| Aug. 1999 | Sold its Electronic Materials Division to AlliedSignal Inc. |
| Aug. 1999 | Acquired the remaining 30% interest in Johnson Matthey Ceramics (Thailand) limited for GBP 300,000 forgiveness of debt and goodwill of GBP 300,000. |
| Mar. 2000 | Acquired the remaining 20% interest in Matthey Beyrand et Cie S.A. for GBP 0.7 million. |
| Mar. 2000 | Disposed of its Organic Pigments business in Venezuela and the USA to Dominion Colour Corporation and Continuous Link Color Inc. |
| Jul. 2000 | Purchased the assets of Precision Studios from Waterford Wedgwood plc for GBP 1.8 million. |
| Nov. 2000 | Acquired Changzhou Dongao Zirconium Products Company Limited from Consolidated Rutile Limited for GBP 0.4 million. |
| Feb. 2001 | Acquired Shape Memory Applications, Inc. for GBP 3.6 million, with GBP 0.7 million deferred until Aug. 2002. |
| Sep. 2002 | The Company announced that it has signed an agreement to buy the Synetix division of ICI for GBP 260 million in cash. Synetix is a global catalyst operation which serves a range of market segments including ammonia, methanol, fine chemicals, edible oils, oleochemicals, oil and gas and polymerisation. |
| Mar. 2004 | Acquired AMC, the market leading supplier of Sponge Nickel catalysts based in Tennessee (USA) for USD 43 million. |
| Jan. 2006 | Acquired Davy Process Technology, a process design and technology licensing company. |
| Jan. 2007 | Sold its Ceramics Division to Endeka Ceramics group. |
| Feb. 2008 | Acquired Argillon Group, which adds to the Company's existing technology for controlling harmful emissions of oxides of nitrogen. |
| Aug. 2012 | Acquired Shanghai Changyin Electronic Material Science and Technology Co. Ltd, a manufacturer of silver paste. |
| Oct. 2012 | Acquired AG Holding Limited and its subsidiaries, including Axeon, which manufactures integrated battery modules. |
| Oct. 2014 | Acquired A123 Systems' battery materials manufacturing facility located in Changzhou, China. |
| Feb. 2015 | Acquired Clariant AG’s battery materials business for USD 75 million, which included a manufacturing facility, R&D center, and pilot plant. |
| Jan. 2018 | Sold automotive battery systems business to Cummins. |
| Nov. 2021 | Announced intent to sell the Battery Materials business unit and completely exit the business. |
| Jan. 2022 | Completed sale of Advanced Glass Technologies business unit to Fenzi Holdings SPV S.p.A. for GBP 173 million. |
| Nov. 2022 | Completed the sale of its Battery Materials Canada (JMBM Canada) business to Nano One Materials Corp. (Nano One) for CAD 10.25 million. |
Joint Ventures |
|
| Dec. 1993 | Formed an agreement with Hicom, the Malaysian government's investment arm, to form a joint venture to manufacture auto catalysts. |
| Nov. 1996 | Entered into an agreement with Magneti Marelli S.p.A. to set up a joint venture company to manufacture auto catalysts in Argentina. As part of the agreement, the Company agreed to purchase Magneti Marelli's auto catalyst plant in Turin. The consideration was GBP 2,300,000. In February 1998, the Company opened a USD 10 million catalytic facility in Pilar, Argentina, The plant is owned by the Company's joint venture with Magneti Marelli. The Argentinean plant has a capacity of one and a half million units and has the potential to be doubled in the future. |
Alliances |
|
| Mar. 1999 | Announced that it has signed a letter of intent with Daimler Benz-Ballard Fuel Cell Engines GmbH ("dbb") to develop and supply catalysts and catalyzed components for fuel-cell engines. Under this agreement the Company will be dbb's exclusive development partner for catalysts (which purify the hydrogen gas used by fuel cell engines to generate electric power) and for several other catalytic components in dbb's groundbreaking engine system. dbb is a joint venture between Daimler Chrysler, Ford and Ballard Power Systems of Canada to develop and manufacture fuel cell engines for vehicles. |
| May 2000 | The Company and Technical Fibre Products (TFP), the advanced composites subsidiary of James Cropper PLC, signed exclusive development and supply agreements for key components in the Company's new Membrane Electrode Assembly products for fuel cells. |
>>>Business Report FY ended Mar. 31, 2008
>>>Business Report FY ended Mar. 31, 2009
>>>Business Report FY ended Mar. 31, 2010
>>>Business Report FY ended Mar. 31, 2011
>>>Business Report FY ended Mar. 31, 2012
>>>Business Report FY ended Mar. 31, 2013
>>>Business Report FY ended Mar. 31, 2014
>>>Business Report FY ended Mar. 31, 2015
>>>Business Report FY ended Mar. 31, 2016
>>>Business Report FY ended Mar. 31, 2017
>>>Business Report FY ended Mar. 31, 2018
>>>Business Report FY ended Mar. 31, 2019
>>>Business Report FY ended Mar. 31, 2020
Note: A figure in brackets ( ) indicates a loss