10th Dec 2007 07:30
Johnson Matthey PLC10 December 2007 For release at 7.30am Monday 10th December 2007 Johnson Matthey to buy Argillon Johnson Matthey announced today that it has signed an agreement to buy ArgillonGroup for €214 million in cash from Ceramics Luxembourg 2(f) S.a r.l., a companyowned by KKR funds. Argillon Group is an international group specialising in catalysts and advancedceramic materials. The group currently manufactures and sells a range ofproducts into a number of different industries. Argillon has leading catalysttechnology which is used to control the emissions of oxides of nitrogen (NOx).Its products include catalysts for mobile and stationary applications includingheavy and medium duty diesel vehicles; stationary diesel engines; marineapplications; and coal, oil and gas fired turbines in power stations. It alsomanufactures and markets a variety of engineered ceramics such as insulatorsused in power transmission and distribution applications, innovative piezoceramics used as actuators for the textile machinery and automotive industriesas well as alumina components for semi conductors and circuit breakers. Argillon's technologies will add to Johnson Matthey's existing emission controlcapabilities to meet the increasingly challenging regulations to control harmfulNOx emissions. With the increased concern on the effects of poor air quality onhuman health and the environment, legislation to control NOx emissions willcontinue to tighten around the world. In the year to 30th September 2007 Argillon reported sales of €160 million,adjusted EBIT (earnings before interest and taxes) of €19 million and adjustedEBITDA (earnings before interest, taxes, depreciation and amortisation) of €26million. Net operating assets at 30th September 2007 were €60 million.Argillon employs around 1,500 people and has manufacturing sites in Germany,Poland and Romania. The transaction is conditional upon regulatory clearance in Germany. JohnsonMatthey will finance the acquisition from existing borrowing facilities. Commenting on this transaction, Neil Carson, Chief Executive of Johnson Mattheysaid: "The acquisition of Argillon will complement our existing technology forcontrolling harmful NOx emissions. In the next few years we expect that globalconcerns about air quality and climate change will mean this technology will bewidely used in both mobile and stationary applications around the world." Enquiries: Ian Godwin Director, IR and Corporate Communications 020 7269 8410 Sally Jones Public Relations Manager 020 7269 8407 David Morgan Executive Director, Group Corporate Development 020 7269 8454 Howard Lee The HeadLand Consultancy 020 7367 5225 Laura Hickman The HeadLand Consultancy 020 7367 5227 www.matthey.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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