3rd Sep 2014 09:46
LONDON (Alliance News) - Speciality chemicals company Johnson Matthey PLC said Wednesday that it has completed its acquisition of the businesses and assets of Ohio-based Catacel Corp.
Catacel supplies technology focused on the use of metal foil coated catalysts and sorbents for process industries.
Johnson Matthey will integrate the business into its Process Technologies Division, and said that the development and optimisation of Catacel's Stackable Structural Reactor technology will allow it to offer an enhanced range of catalyst technologies.
Additionally, Johnson Matthey will look to identify technical and commercial synergies with Catacel to drive growth in the coated catalysts and reactor systems for fuel processing for stationary fuel cells market.
"Catacel has strong and differentiated technology and good prospects for future growth," said Divisional Director of Process Technologies Geoff Otterman in a statement. "Its technology is an excellent fit with our business model of creating value through applying our expertise in advanced materials and technology to innovate and improve solutions that are valued by our customers."
No financial details of the acquisition were disclosed.
Shares in Johnson Matthey were trading up 1.1% at 3,220.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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