Johnson Matthey is
the clear world leader in the fast growing, $60 million
a year market for high purity titanium, a vital raw
material for the manufacture of semiconductors. World
wide demand for high purity titanium has more than
doubled since 1993, driven by recent growth in demand
for semiconductors of over 30% per year. Industry
analysts conservatively expect growth in the semiconductor
sector to continue at 15 to 20% per annum through
to the end of the century. This expansion project
is part of a recently announced major programme of
capital expenditure for Johnson Matthey's rapidly
growing Electronic Materials Division.
Guest of Honour at
today's opening ceremony was Baroness Thatcher who
is currently visiting the United States. She was
joined by David Davies, Chairman and Chief Executive
of Johnson Matthey Plc, and invited guests.
Speaking at the opening
ceremony David Davies, Chairman and Chief Executive
of Johnson Matthey said:
"This important investment
guarantees Johnson Matthey a regular supply of titanium
sponge, critical for the production of high purity
titanium for the world's semiconductor industry.
The $40 million expansion
of our high purity titanium manufacturing facilities
in Fombell, Pa and here in Salt Lake City, is a further
demonstration of Johnson Matthey's commitment to
being a leading supplier to the rapidly growing microelectronics
industry worldwide."
