Sector News

Johnson Matthey sells its gold and silver refining business

December 15, 2014
Chemical Value Chain
Johnson Matthey is selling its gold and silver refineries for £118m as part of a plan to focus on providing specialist chemicals.
 
The sale to the Japanese industrial conglomerate Asahi Holdings includes refineries in Salt Lake City, USA and Brampton in Canada. The plants melt down recycled jewellery, industrial scrap, mining ore and metal from financial institutions into gold and silver bullion.
 
The refining business made sales of £44m in the year to the end of March, with returns of around 25pc, the firm said. It employs around 340 people.
 
Johnson Matthey said last month that half-year sales in its gold and silver refining business were down 23pc, while its platinum refining business was benefiting from a higher asking price for the commodity.
The company did not say whether the plunging prices of gold and silver, with the metals down about 12pc and 18pc respectively since peaking in March, have influenced its decision to sell.
 
“The divestment of the gold and silver refining business is in line with our long term strategy to focus on areas where we can use our expertise in chemistry and its applications to deliver high technology solutions or that provide a strategic service to the wider Johnson Matthey group,” said chief executive Robert MacLeod, who took over from Neil Carson in June.
 
The cash sale is expected to complete by the end of March. Johnson Matthey is also awaiting the completion of its £46m purchase of Clariant AG’s energy storage business.
 
By Marion Dakers 
 

comments closed

Related News

January 22, 2023

Ineos to Acquire MBCC’s Admixtures Business

Chemical Value Chain

Ineos Enterprises has signed an agreement to buy MBCC Group’s admixture business from Sika. The deal is required by European antitrust regulators to approve Sika’s purchase of the MBCC Group, formerly BASF Construction Chemicals. The transaction is scheduled to complete in the first half of this year, subject to regulatory approvals.

January 22, 2023

Carbios and Novozymes strengthen partnership for PET bio-recycling

Chemical Value Chain

Carbios and Novozymes are entering an exclusive long-term global strategic partnership to ensure the production and supply of Carbios’ proprietary PET-degrading enzymes at an industrial scale. Together the companies will build the world’s first biological PET-recycling plant due to start production in 2025 in Longlaville, France, as well as Carbios’ future licensee customers.

January 22, 2023

Borealis adds crosslinked PE to circular portfolio

Chemical Value Chain

Pyrolysis process keeps difficult-to-recycle crosslinked polyethylene like XLPE and PE-X in the circular loop. Chemically recycled grades in the Borcycle™ C portfolio are ISCC PLUS certified according to the mass balance methodology. EverMinds™ approach provides innovative and viable solutions to recycling challenges in the Wire & Cable and Infrastructure industries.

How can we help you?

We're easy to reach