Johnson Matthey announces sale of Advanced Glass Technologies
24 November 2021
- Johnson Matthey announces the sale of its Advanced Glass Technologies business to Fenzi Holdings SPV S.p.A.
- Completion anticipated in spring 2022.
Johnson Matthey (JM) today announces the sale of its Advanced Glass Technologies (AGT) business, a leading global provider of specialist glass enamels and precious metal pastes supplied mainly to the automotive sector. AGT is part of Value Businesses in JM鈥檚 鈥極ther Markets鈥� segment and was previously identified as non-core to JM鈥檚 growth strategy.
AGT will be sold to Fenzi Holdings SPV S.p.A (鈥淔enzi Group鈥�), a manufacturer and supplier of materials for flat glass processing.
The transaction is subject to works council consultation in the Netherlands and the satisfaction of customary completion conditions with completion expected in spring 2022.
The divestment of AGT is consistent with our aim of creating a simpler, more focused portfolio. Aligned with JM鈥檚 strategy, the company is focusing its resources towards growth areas targeted at climate change solutions as it delivers on its vision for a cleaner, healthier world.
Please view the RNS for details of the sale.
Enquiries
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Louise Curran, Senior Investor Relations Manager, 020 7269 8235
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