Specialty chemicals company Johnson Matthey PLC Thursday said it will reorganize its business into four divisions instead of five.
The reorganization will lead to “further synergies for customers and create value for shareholders,” the company said.
At 1508 GMT, shares down 3 pence, or 0.1%, at 2,896 pence valuing the company at 5.6 billion pounds ($6.97 billion).
Write to Rory Gallivan
This equipment will significantly lower the site’s CO2 emissions, reduce flaring and save around 60 gigawatt hours (GWh) energy each year. Project kick-off is in February 2021, with completion planned for 2023.
The acquisition significantly strengthens and expands Grace’s existing pharma portfolio. Pharma & Consumer is the largest, fastest growing and most profitable subsegment within Grace’s Materials Technologies business.
Solvay says it has decided to organize its soda ash and derivatives business into a separate and fully controlled legal structure.