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Johnson Matthey to Buy Argillon

Johnson Matthey will buy Argillon Group for €214 million (US$315 million) in cash from Ceramics Luxembourg S.à r.l., a company owned by KKR funds.

Argillon Group is an international group specializing in catalysts and advanced ceramic materials, and manufactures and sells a range of products into a number of different industries, including the established SINOx Selective Catalytic Reduction (SCR) technology used to control NOx emissions. Its products include plate-type and honeycomb-type catalysts for mobile and stationary applications including heavy and medium duty diesel vehicles; stationary diesel engines; marine applications; and coal, oil and gas fired turbines in power stations.

The acquisition of Argillon will complement our existing technology for controlling harmful NOx emissions. In the next few years we expect that global concerns about air quality and climate change will mean this technology will be widely used in both mobile and stationary applications around the world.

—Neil Carson, CEO of Johnson Matthey

Argillon has been working on a new catalyst for automotive applications, targeted for US 2010 and EURO VI emission regulations. The new catalyst features excellent resistance to hydrothermal ageing and provides high temperature stability to withstand particulate filter regenerations upstream in the exhaust. Low temperature NOx reduction activity of the catalyst also allows for operation with modern high efficiency engines at low exhaust gas temperatures.

Argillon developed a homogeneous, zeolite-based material for the new technology, enabling cost saving production in a single extrusion process to create a 100% active honeycomb for NOx removal, unlike an inert substrate. Though this type of fine-celled zeolite honeycomb is new, it may be canned using conventional cost effective canning techniques. The low bulk density of this new catalyst helps to reduce efforts in muffler design and canning.

Argillon also manufactures and markets a variety of engineered ceramics such as insulators used in power transmission and distribution applications, piezo ceramics used as actuators for the textile machinery and automotive industries as well as alumina components for semi conductors and circuit breakers.

In the year to 30 September 2007 Argillon reported sales of €160 million, adjusted EBIT (earnings before interest and taxes) of €19 million and adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) of €26 million. Net operating assets on 30 September 2007 were €60 million. Argillon employs around 1,500 people and has manufacturing sites in Germany, Poland and Romania.

Comments

ROBERT FRANKLIN BARNES

HI
I'AM ROBERT
CONGRATULATIONS THAT A GOOG BUY EVERY ONE NEED THANK YOU . SO CAN YOU HELP ME KEEP UP WIFT THE APPLICATIONS SYMBOL FOR IRIDIUM----RHODIUM----RUTHENIUM----LMI----
PLATINUM AM/FIX----PM/FIX----
PALLADIUM AM/FIX----PM/FIX---- ARE THAT ON MARKET
AT THE LONDON STOCK EXCHANGE THANK YOU

ROBERT FRANKLIN BARNES

CONGRATULATION
THAT A GOOD BUY EVERY ONE NEED YOU THANK YOU.
SO CAN YOU HELP ME KEEP UP WIFT THE APPLICATIONS
ON SYMBOL FOR
IRIDIUM
RHODIM
RUTHENIUM
LMI
PLATINUM AM FIX
PLATINUM PM FIX
PALLAADIUM AM FIX PM FIX
ARE THEY ON THE MARKET AT
LONDON STOCK EXCHANGE THANK YOU

ROBERT FRANKLIN BARNES

CONGRATULATIONS THAT A GOOD BUY

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