Page 159 - CW E-Magazine (3-6-2025)

News from Abroad

CONSOLIDATION
Honeywell to buy Johnson Matthey’s catalyst

technologies business

Diversified American conglomerate,
Honeywell, has agreed to acquire
Johnson Matthey’s Catalyst Techno-
logies business segment for £1.8-bn
($2.4-bn), including debt.

Johnson Matthey’s Catalyst Tech-
nologies business segment is a leading
provider of catalyst manufacturing and
process technology licensing. It has
approximately 1,900 employees and is
headquartered in London, with sites in
the US, Europe and India. Honeywell
said the combination of the Catalyst and growth drivers. Since December with today”. The sale to Honeywell is
Technologies business with its Energy 2023, Honeywell has announced a expected to generate net proceeds for
and Sustainability Solutions (ESS) number of strategic actions to drive the British company of about £1.6-bn,
business segment is expected to add organic growth and simplify its port- around 88% of which will be returned
attractive “high growth vectors to the folio, including approximately $11-bn to shareholders, Johnson Matthey said.
portfolio and drive significant additional of accretive acquisitions recently closed Catalyst Technologies reportedly made
benefits through cost synergies”. or announced: the Access Solutions up about 19% of Johnson Matthey’s total
business from Carrier Global, Civitanavi sales in the year ended March 2025.
The Catalyst Technologies’ business Systems, CAES Systems, the LNG
model complements Honeywell’s exis- business from Air Products, and Sun- Johnson Matthey will now focus
ting UOP business of selling catalyst dyne. In addition, Honeywell entered on its two main businesses that make
and process technologies and expands into an agreement to divest its Personal pollution filters for cars and process
its installed base across refining and Protective Equipment business, which platinum group metals. “We will now
petrochemical catalysts. Honeywell said is expected to close in Q2 2025. fundamentally re-shape Johnson Mat-
it will now be able to offer customers they into a more focused and leaner
a comprehensive solution for the pro- Meanwhile, Johnson Matthey’s business,” Mr. Condon said in a state-
duction of lower emission, critical fuels CEO Mr. Liam Condon told analysts ment. Over the last four-and-a-half
including sustainable methanol, sustaina- that the company had received interest years, Johnson Matthey has sold assets
ble aviation fuel (SAF), blue hydrogen for the unit three years ago but at a valu- including battery materials, glass tech-
and blue ammonia. The resulting offer- ation that was “minuscule compared nologies, health and medical devices.
ings will provide licensed technology,
engineering, services and catalysts to LBB Specialties inks distribution deal with Abitec
convert hydrocarbon and renewable LBB Specialties (LBBS), a specia- bution partners for their ingredient
feedstocks to high-value end products. lity chemicals and ingredient distributor solutions across the personal care,
in North America, has announced a new food & nutrition, HI&I, and industrial
The acquisition follows Honey- distribution partnership with Abitec, a specialties markets in the US.
well’s announcement of the planned US-based manufacturer of speciality
spin-off of its Aerospace Technologies lipids and surfactants, commonly used as Through this partnership, LBB
business along with the planned spin- solubilisers, emulsifiers, and lubricants. Specialties will distribute Abitec’s
off of its Advanced Materials business, medium-chain triglycerides, mono and
which will result in three publicly listed Under this agreement, LBBS will diglycerides, fatty acids, fatty alcohols,
industry leaders with distinct strategies serve as one of Abitec’s master distri- and esters.

Chemical Weekly June 3, 2025 159

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