Johnson Matthey's Chief Executive, Robert MacLeod today announced the signing of a Memorandum of Understanding (MOU) between Johnson Matthey and the Chinese Academy of Sciences Holdings Co., Ltd. (CASH). CASH is wholly owned by the Chinese Academy of Sciences (CAS), China's top science and technology research and educational organisation.
The MOU was signed on 31st July by Robert MacLeod and CASH General Manager Suo Jishuan under witness of CAS President Bai Chunli at CAS headquarters in Beijing, and will facilitate future broad collaboration between the two parties.
A cradle of science and innovation in China
On behalf of CAS, CASH exercises the investor's rights for the state-owned operating assets within the wholly-owned, shareholding and joint-stock companies affiliated to CAS, and takes responsibility of asset preservation and increment. Founded in 1949, CAS is the cradle of science and innovation in China with 104 research institutes, two universities, 12 academies and over 100 key national laboratories across China.
Science and innovation is also a cornerstone of Johnson Matthey's strategy to develop the next generation of sustainable products for its customers and the company spent around £170 million on research and development (R&D) last year. The MOU is therefore primarily focused on collaborative R&D efforts aimed at the joint development and commercialisation of new technologies and will support Johnson Matthey in further growing its presence in China.
Solving global challenges
Johnson Matthey has already established a strong presence in several locations in China, including Shanghai, Beijing and Yantai. The company's focus is on using chemistry and applications expertise to solve major global challenges such as air pollution, conservation of natural resources, climate change and promoting health – challenges that are hugely relevant in China, where up to 500,000 premature deaths a year on mainland China are caused by air pollution.
Robert MacLeod, Chief Executive of Johnson Matthey said:"Johnson Matthey is a sustainable technology company and our customers in China value the high technology products we produce. We already have a strong manufacturing infrastructure in the country, supported by over 1,000 employees, and have plans to increase our investment over the next decade.
"With our shared traditions in science and technology research and development, collaboration between CAS / CASH and Johnson Matthey is an excellent strategic fit. We are excited about the prospect of working with CAS / CASH to jointly develop new sustainable technologies and further strengthen our position in China."
CAS President Bai Chunli commented: "I am delighted to witness the signing this memorandum of understanding between CASH and Johnson Matthey.
Johnson Matthey is a much admired global leader in sustainable technologies, developing a strong presence in China
"I wish both parties success in combining their strengths to make significant contributions to scientific development."
Notes for editors
Johnson Matthey in China
Johnson Matthey has 8 major manufacturing operations and over 1,000 employees. In 2014/15 around 10% of Johnson Matthey's Group sales are in China.
Johnson Matthey has recently agreed to invest in Shanghai Bi Ke Clean Energy Technology Co., Ltd (CECC), a Chinese chemical process technology commercialisation and licensing start-up company which focuses on technologies for the gas and syngas to chemicals and fuels markets. Following the investment, the two parties will work together to expand the use of methanol as a feedstock for petrochemical processes and in applying methanol technologies.
About Professor Bai and CASH
Professor Chunli Bai, PhD, has expertise in chemistry and nanometre technology. He is the chairman of the CAS party, the president of CAS, Executive Chairman of the Learning Department and is President of Science Institution of the developing country. Mr Bai is the academician of more than 10 national science and engineering institutions as CAS, Science Institution of the developing country, the National Academy of Sciences of the US, the British Royal Society and the Russian Academy of Sciences. He is also the honoured President of the Council of Nanometre Association and the Chief Scientist of National Nanometre Technology Association.
Mr Bai is the member of The Central Personnel Work Coordination Group, the National Education Reform Leading Group, the National "12th Five Year" national economic and social development planning expert group and deputy director of the National Science and Technology Commission.
On behalf of CAS, CASH exercises the investor's rights for the state-owned operating assets within the wholly-owned, shareholding and joint-stock companies affiliated to CAS, and takes responsibility of asset preservation and increment.
By the end of 2014, CASH has invested in 18 funds with total commitment reaching RMB 2.7 billion. The total size of all the funds exceeded RMB 43.5 billion. The leverage ratio is 1:16. To date, CASH has invested in 170 companies. Among them, 7 companies have been listed and 2 have passed the review and are waiting for IPO. The total capitalisation of CASH in these companies is RMB 140 million, 1.5 times of the investment cost (by the closing price on 31st December 2014).
Sally Jones, Director, Investor Relations and Corporate Communications
+44 20 7269 8407
David Allchurch, Tulchan Communications
+44 20 7353 4200