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
Source: MarketWatch
BASF will build a commercial scale battery recycling black mass plant in Schwarzheide, Germany. This investment strengthens BASF’s cathode active materials (CAM) production and recycling hub in Schwarzheide. The site is an ideal location for the build-up of battery recycling activities given the presence of many EV car manufacturers and cell producers in Central Europe.
Clariant says it is reducing its number of businesses from five to three, by merging units, under a reorganization that is in line with the company’s purpose-led strategy and cultural transformation. The moves will position Clariant for long-term sustainable growth, the company says.
Chemicals & plastics industry has the most diversified end-use market across all manufacturing industries. The industry returned to growth in 2021 but a supply chain crunch prevented it from becoming stronger. The market is likely to stabilize in the second half of 2022 with a supply-demand balance.
