9th Sep 2005 07:00
Johnson Matthey PLC09 September 2005 For release at 7.00 am, Friday 9th September 2005 Johnson Matthey to build Autocatalyst facility in Korea At a ceremony held yesterday in Royston, UK, Johnson Matthey signed a Memorandumof Understanding (MOU) with senior representatives of Gyeonggi province,Republic of Korea, to secure a green field site as the first step in amulti-million pound investment in Korea. The site is located in a new hightechnology science park near Jangan in Gyeonggi province, 50 kilometres southwest of Seoul. Over the last decade Korea has emerged as a leading player in the globalautomotive industry and Johnson Matthey plans to build a plant to manufactureemission control catalysts for a wide range of both diesel and petrol poweredvehicles. The new facility will also carry out research and developmentactivities and will include vehicle and engine emission test capabilities tosupport the Korean motor industry. The MOU was signed by Larry Pentz, Executive Director, Environmental Catalystsand Technologies and Sohn, Hak-Kyu, the Governor of Gyeonggi province. Thesigning ceremony was also attended by other senior representatives of Gyeonggiprovince, the Korean Embassy in London and KOTRA, the Korean Trade - InvestmentPromotion Agency. Following the signing ceremony, the Korean delegation wasgiven a tour of Johnson Matthey's European Autocatalyst Technology Centre and ofthe extensive emission control catalyst production facilities on the Roystonsite. Commenting on Johnson Matthey's investment plans, Larry Pentz said "We recognisethe growing importance of the Korean automotive industry and its strategicposition in the global vehicle market. Furthermore, we expect Korea to be one ofAsia's most important markets for heavy duty diesel catalysts as emissionstandards continue to tighten throughout the region. We feel the time is rightto invest in Korea and are very pleased with our relationship with Gyeonggiprovince; it is the perfect location for us to establish a major presence isthis key market. We are honoured that the Governor Sohn and his delegation wereable to visit us today" Speaking at the signing ceremony, Governor Sohn said: "We are delighted thatJohnson Matthey has selected Gyeonggi province for this important investment. Itis our aim to attract high technology companies, with progressive, long-termplans to establish R&D and manufacturing facilities in our province in order toserve Korea and the Asia region. We look forward to the next phase of thisinvestment" Enquiries: Ian Godwin Director, Corporate Communications 020 7269 8410 Mobile 07967 278410 Howard Lee The HeadLand Consultancy 020 7036 0369 Mobile 07836 785993 www.matthey.com Notes for Editors: About Johnson Matthey Johnson Matthey is a speciality chemicals company focused on its core skills incatalysts, precious metals and fine chemicals. The group's principal activities are the manufacture of autocatalysts andpollution control systems, catalysts and components for fuel cells,pharmaceutical compounds, process catalysts and fine chemicals; the refining,fabrication and marketing of precious metals; and the manufacture of colours andcoatings for the glass and ceramics industries. Johnson Matthey has continued to develop its technology for almost 200 years,demonstrating the company's ability to maintain world leadership by adaptingconstantly to rapidly changing customer needs. Rigorous in its own environmentalpolicies, many of Johnson Matthey's products have a major beneficial impact onthe environment and enhance the quality of life for millions around the world. Johnson Matthey has operations in 34 countries and employs around 7,400 people.Its products are sold across the world to a wide range of advanced technologyindustries. The company's Catalysts Division operates globally under the market identity ofJohnson Matthey Catalysts and consists of 3 separate business units.Environmental Catalysts and Technologies (ECT), which manufactures catalysts forautomobile emission control and the reduction of emissions from industrialprocesses, the Fuel Cell business which manufactures fuel cell catalysts andcatalysed components and the Process Catalysts and Technologies (PCT) businesscomprising PGM refining, process catalysts and fine and research chemicals. ECT comprises Johnson Matthey's global autocatalyst, heavy duty diesel andstationary source emissions control businesses. The company is a world leadingmanufacturer of catalysts for vehicle exhaust emission control and a leader incatalyst systems for the reduction of volatile organic compound emissions fromindustrial processes. Manufacturing facilities are located in the USA, UK,Belgium, Mexico, Argentina, South Africa, Japan, Malaysia, India and China. R&Dfacilities are in the USA, UK, Sweden, Japan and Brazil. About the Korean Motor Industry Korea has been producing automobiles since the mid 1950's but the Korean motorindustry has grown rapidly over the last two decades. Today Korea is the world's6th largest car manufacturing nation, producing nearly 3.5 million vehicles in2004. This represents 5.4% of total world car production and Korea ischallenging France for 5th place. Almost 2.4 million of these vehicles wereexported to markets around the world. Automobiles have been Korea's biggestexport since 2001, ahead of semiconductors, mobile phones, computers andshipbuilding. Korea plans to become the world's fourth largest car producer, with a target ofmanufacturing 10% of all the cars produced each year by 2012. Korean carcompanies have established manufacturing operations around the world withfacilities in Eastern Europe, the Middle East, Africa, India, China and manyother parts of Asia as well as in North and South America. Through initiatives such as its "Future Automobile Development Project" theKorean motor industry is committed to developing the next generations of safe,environmentally friendly cars. These include the development of environmentallyfriendly diesel engines and hybrid vehicles and, in the longer term, fuel cellpowered cars. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Johnson Matthey