Johnson sheds gold and silver

Ollie Gordon
FTSE 100-listed chemicals and technologies company Johnson Matthey yesterday struck a £118m deal to sell its gold and silver refining business to Japanese precious metals firm Asahi Holdings.

All in cash and subject to the usual post-closing adjustments, the deal is expected to be completed by the end of March next year.

Johnson Matthey chief executive Robert MacLeod said the sale was in line with the firm’s “long term strategy to focus on areas where we can use our expertise in chemistry and its applications to deliver high technology solutions or that provide a strategic service to the wider Johnson Matthey group”.