Johnson Matthey Sells Catalyst Technologies Business to Honeywell Technologies

Honeywell Technologies has bought Johnson Matthey (JM)’s Catalyst Technologies business for £1,325 billion.

Honeywell will now offer a more comprehensive, end-to-end service for energy and process technology customers, highlighting its aim of delivering solutions that drive operations, improve efficiency and enhance performance. JM has confirmed its intention to return £1 billion of net sales proceeds to shareholders: £800 million through a special dividend with share consolidation; and £200 million through an on-market share buyback programme.

Liam Condon, CEO of JM, commented: “We are pleased to have completed the sale of Catalyst Technologies to Honeywell. This is a significant milestone for JM as we transform into a focused, lean and cash generative group, underpinned by our world leading PGM expertise. We are grateful to our Catalyst Technologies colleagues for their significant contributions to JM over the years and wish the whole team every success for the future.”

Ken West, President and CEO, Process Technology, Honeywell Technologies, stated: “This acquisition significantly enhances Honeywell Technologies’ ability to deliver end-to-end solutions that help our customers drive efficiency, reduce emissions and accelerate energy security goals. By combining JM’s differentiated catalyst expertise with our leading technologies and digital capabilities, we are creating a strong platform for future growth while enabling our customers to immediately unlock the benefits of a more robust set of offerings.”