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’s ‘Other Markets’ segment and was previously identified as non-core to JM’s growth strategy.
AGT will be sold to Fenzi Holdings SPV S.p.A (“Fenzi Group”), 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’s 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.
Martin Dunwoodie, Director of Investor Relations, 020 7269 8241
Louise Curran, Senior Investor Relations Manager, 020 7269 8235
Jane Crosby, Investor Relations Manager, 020 7269 8242
Barney Wyld, Group Corporate Affairs Director, 020 7269 8001
Harry Cameron, Tulchan Communications, 07799 152 148