Mark Kleinman: £1bn Leonardo deal betrays Whitehall toxicity Business Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column How’s this for joined-up government? The chancellor, could not bear to let 3,000 skilled manufacturing jobs at a helicopter factory in Somerset evaporate – or so the story went – because “Rachel cares about keeping the [...]
Johnson Matthey wades into US activist campaign row Business Johnson Matthey has entered the public spat brewing over an activist campaign from its largest investor, attempting to reassure markets it has been taking concerns over its share price seriously. In a withering letter yesterday, US industrials investor Standard Investments slammed the chemicals group’s board for a “continued lack of urgency and incapacity” over its [...]
Johnson Matthey: US investor ramps up activist campaign Business Johnson Matthey’s largest shareholder has piled pressure on the FTSE 250 chemicals group, calling its response to a demanded strategic review “wholly insufficient”. In an open letter to Johnson Matthey chair Patrick Thomas, today, US industrials investor Standard Investments slammed the group’s “destruction of shareholder value” as part of its activist campaign. Last month, Standard [...]
Investor calls for Johnson Matthey to explore sale after shares slump December 16, 2024 Standard said it believed in the "unique value of JM," but warned a "massive credbility gap" had emerged with investors and the broader market.
Johnson Matthey to spin off medical manufacturing arm for £550m March 20, 2024 Chemicals specialist Johnson Matthey has spun off its Medical Device Components business to a private equity firm for £500m.
Johnson Matthey: Hydrogen unit powers raised outlook but can’t save 600 jobs November 22, 2023 Johnson Matthey, which makes catalytic converters and pollution filters for cars, raised its outlook for full-year underlying operating performance on Wednesday as cost-cutting efforts pay off and on strong demand for its energy-focused units. The centuries-old British firm, which traces its roots back to testing the purity of precious metals, has raised prices of products and [...]
UK risks dropping green energy lead by failing to respond to Biden’s $400bn package, Johnson Matthey chief warns May 10, 2023 The head of one of Britain’s largest manufacturers has warned Prime Minister Rishi Sunak that he risks squandering the country’s lead in clean energy production by failing to respond to US President Joe Biden’s $400bn (£317bn) green stimulus package. Liam Condon, chief executive of Johnson Matthey, told Sky News it has intellectual property which could [...]
Johnson Matthey profits chipped away by inflation and supply chain woes November 23, 2022 Johnson Matthey’s profits have been eaten into by soaring inflation and ongoing supply chain disruptions. The British chemicals maker had its operating profit dive a quarter to £222m on an underlying basis in the six months to the end of September, according to the group’s latest results. Supply chain constraints have hit the group’s clean [...]
Johnson Matthey to sell health division for £325m December 17, 2021 Chemical giant Johnson Matthey (JM) announced this morning the sale of its health division for £325m to investment firm Altaris Capital. The transaction, expected to close in mid-2022, has pushed shares up 0.25 per cent to 1,997p. Upon completion of the deal, JM will receive £150m cash, retaining a 30 per cent stake in the [...]
Johnson Matthey results lift as giant sells glass technology business November 24, 2021 Chemical giant Johnson Matthey (JM) called its performance in the first half of the year “resilient”, as sales went up 21 per cent to £1.9bn and revenue increased 23 per cent. Driven by the higher average price of precious metals, the company’s underlying operating profit also jumped to £293m, up 102 per cent and ahead [...]