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Johnson Matthey PLC

Johnson Matthey Plc operates in clean air, catalyst and hydrogen technologies, and platinum group metals (PGM) services across the United Kingdom, Germany, the rest of Europe, the United States, the rest of North America, China, the rest of Asia, and internationally. It reports through three segments: Clean Air, PGM Services, and Hydrogen Technologies. Clean Air supplies catalysts for emission-control after-treatment systems that reduce harmful emissions from cars, other light-duty vehicles, trucks, buses, and non-road equipment powered by internal combustion engines. PGM Services provides PGM refining, recycling, and trading, other precious metal products, and PGM chemicals, industrial products, and catalysts, supporting the energy transition through circular solutions for critical materials. Hydrogen Technologies offers components across the fuel cell and electrolyser value chain, including catalyst coated membranes and membrane electrode assemblies. The company was formerly known as Johnson & Cock and changed its name to Johnson Matthey Plc in 1851; it was founded in 1817 and is headquartered in London, the United Kingdom.

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Honeywell Technologies Completes Acquisition of Johnson Matthey’s Catalyst Technologies Business

Honeywell Technologies has completed its acquisition of Johnson Matthey’s Catalyst Technologies business for £1.325 billion in an all-cash transaction. The deal strengthens Honeywell Technologies’ portfolio across refining, petrochemicals and renewable fuels, and enhances its end-to-end solutions by combining catalysts, process technologies and digital capabilities powered by Honeywell Technologies Forge. The acquisition is expected to drive growth and expand the company’s global installed base. This follows Honeywell Technologies’ separation of its Aerospace Technologies business and the spin-off of its Advanced Materials business, and is part of approximately $11.5 billion of acquisitions completed since 2023.
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HON · Capital · Positive Honeywell completes acquisition of Johnson Matthey's Catalyst Technologies business, strengthening its portfolio and expected to drive growth.
JMAT.LSE · Capital · Negative Johnson Matthey sells its Catalyst Technologies business to Honeywell for £1.325 billion.
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Johnson Matthey Says Turnaround on Track as Cash Flow Jumps, Portfolio Shifts Advance

Johnson Matthey told shareholders at its 2026 Annual General Meeting that its turnaround remains on track, with full-year results in line with upgraded guidance and free cash flow rising more than 160% year over year. Underlying operating profit rose 6% on a reported basis and was up 14%, while the Clean Air business improved margins to the mid-teens. The company said it remains on course to meet its 2027/2028 commitments and is making major portfolio changes, including the sale of Catalyst Technologies to Honeywell, which is nearing completion after receiving final China antitrust approval. Johnson Matthey is also advancing its new platinum group metals refinery in Royston, expected to be operational in 2027, and announced a growth-focused acquisition of Cormetech to expand its stationary emissions-control business. The board plans to return GBP 200 million per year to shareholders through dividends and buybacks, broadly split about half and half.
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Critical Materials & Supply Chain
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Critical Materials & Supply Chain › Precious Metals Supply
JMAT.LSE · Capital · Positive Turnaround on track with cash flow up 160%, profit up 14%, and plans for GBP 200M annual shareholder returns.
Cormetech · Demand · Positive Cormetech is acquired by Johnson Matthey to expand stationary emissions-control business, implying growth.
HON · Capital · Positive Honeywell is acquiring Johnson Matthey's Catalyst Technologies, a portfolio shift nearing completion.
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