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Veranova to close Annan site

Following a review over the past few months of its of its manufacturing capacity relative to customer needs and market trends across its product portfolio, Veranova’s Macfarlan Smith subsidiary has announced a proposal to close its facility at Newbie, near Annan in Scotland. It will now conduct statutory consultation requirements under UK law.

CEO Niek Stapel said: “Every effort has been made to avoid proposing the closure of the plant. This was a difficult decision to make which in no way reflects the performance or commitment of our colleagues at Annan.”

JM sells Battery Materials

Johnson Matthey (JM) has exited from the batteries market by selling most of its Battery Materials business to EV Metals Group for £50 million and the Canadian part to Nano One Materials for C$10.25 million. Both buyers are specialists in the field.

EV Metals is taking the battery technology centres at Oxford and Billingham, UK, and Moosburg, Germany; a pilot plant and laboratories also at Billingham; a cathode active materials (CAMs) plant under construction in Konin, Poland (pictured); JM’s eLNO technology; and associated patents, licences and other IP rights.

JM to close Battery Materials

Following discussions with various parties about a sale of its Battery Materials business, Johnson Matthey (JM) has announced that it has not been able to reach an agreement to sell the business as a going concern. It is therefore beginning consultation with employees about proposed closure of the business and pursuing the sale of its individual assets.

Ethyl acetate from biomass planned

CropEnergies, a specialist in biomass-based sustainable chemicals, has taken a licence to use Johnson Matthey’s (JM) DAVY ethyl acetate process technology in a new 50,000 tonnes/year plant at Zeitz, Germany, that will make renewable ethyl acetate from renewable ethanol feedstock using renewable energy. Ethyl acetate is widely used in cosmetics, flexible packaging and coatings, paints and adhesives, food, beverage and pharmaceutical applications.

Financial buyer for JM Health business

Johnson Matthey (JM) has agreed to sell the majority of its Health business to Altaris Capital Partners, an investment firm focused exclusively on the healthcare industry, for £325 million enterprise value, or 9.8 x EBITDA in the 12 months to 30 September 2021. Completion is anticipated in mid-2022, subject to regulatory approvals.

Johnson Matthey to exit battery materials

Following a detailed review, Johnson Matthey has concluded that the potential returns from its Battery Materials business “will not be adequate to justify further investment”. It will therefore seek to sell all or parts of the business.

Although demand has been growing strongly, the company said, “so is competition from alternative technologies and other manufacturers” and the market is becoming commoditised. JM had explored partnerships in the field but found that “our capital intensity is too high compared with other more established large-scale, low-cost producers”.

JM, Swan in battery partnership

Johnson Matthey, Thomas Swan and the UK’s Centre for Process Innovation (CPI) have teamed up in the ICE-Batt project. This seeks how to optimise battery technology by using innovative forms of carbon to overcome some of the limitations of lithium-ion batteries, including energy density, power density and low temperature performance.

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