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HOME arrow Manufacturing arrow Matthey pays 154m pounds for German company arrow Registration
Matthey pays 154m pounds for German company
Written by News Desk   
Wednesday, 13 February 2008
Royston’s Johnson Matthey has completed the €214 million (£154m) acquisition of the Argillon group following German regulatory approval for the deal.

Johnson Matthey’s intent to incorporate the firm into its operation was announced at the end of last year and represents a major advance in its expansion plans for its catalysts business.

The Argillon group is owned by US private equity firm, Kohlberg Kravis Roberts & Co through its Ceramics Luxembourg subsidiary and is headquartered in Germany where it has its main manufacturing site.

The group specialises in catalysts and advanced ceramic materials and manufactures and sells a range of products into a wide number of industries.
In the year to September 30, 2007 it reported sales of €160m (£150m)  and adjusted EBITDA of €26m (£19m).

It employs around 1,500 people worldwide and has further manufacturing sites in Poland and Romania as well as a sales and engineering site in Georgia, USA, and sales offices in Kuala Lumpur, Malaysia and Shanghai, China.

Johnson Matthey said in 2006 that it would use the proceeds from the £153m sale of its Ceramics division to help fund its strategy of focusing the group on its core activities in catalysis, precious metals and fine chemicals.

Argillon has leading catalyst technology which is used to control the emissions of oxides of nitrogen (NOx).

Its products include catalysts for mobile and stationary applications including heavy and medium duty diesel vehicles; stationary diesel engines; marine applications and coal, oil and gas fired turbines in power stations.

Speaking when Johnson Matthey made its first approach for the firm, chief executive Neil Carson, said: “The acquisition of Argillon will complement our existing technology for controlling harmful NOx emissions.

“In the next few years we expect that global concerns about air quality and climate change will mean this technology will be widely used in both mobile and stationary applications around the world.”

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