Jump to content

Johnson Matthey: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
→‎History: Changed link from "Flux" to the correct "Flux_(metallurgy)" link.
Updating info box (new chairman + figures) from latest annual report, adding historical company acquisitions, updating head office location.
Line 7: Line 7:
| foundation = 1817
| foundation = 1817
| location = [[London]], [[United Kingdom]]
| location = [[London]], [[United Kingdom]]
| key_people = Sir John Banham <small>(Chairman)</small><br>Neil Carson <small>(CEO)</small>
| key_people = T E P Stevenson OBE <small>(Chairman)</small><br>Neil Carson <small>(CEO)</small>
| num_employees = 8,500 (2010)<ref>{{Cite web|url=http://www.matthey.com/ |title=Welcome to Johnson Matthey |publisher=Matthey.com |date=30 September 2007 |accessdate=18 April 2011}}</ref>
| num_employees = 9,700 (2012)<ref>{{Cite web|url=http://www.matthey.com/AR11/report_of_the_directors/introduction.html |title=Johnson Matthey Annual Report 2011 |publisher=Matthey.com |date=30 January 2012 |accessdate=30 January 2012}}</ref>
| industry = [[Chemicals]]<br>[[Precious metal]]s
| industry = [[Chemicals]]<br>[[Precious metal]]s
| products = Precious Metals, Industrial catalysts
| products = Precious Metals, Industrial catalysts
| revenue = [[Pound sterling|£]]7,839.4&nbsp;million (2010)<ref name=AR>{{Cite web|url=http://www.matthey.com/AR10/accounts/consolidated_income.html |title=Annual Report 2010 |publisher=Matthey.com |date=31 March 2010 |accessdate=18 April 2011}}</ref>
| revenue = [[Pound sterling|£]]9,984.8&nbsp;million (2011)<ref name=AR>{{Cite web|url=http://www.matthey.com/AR11/accounts/consolidated_income.html |title=Annual Report 2011 |publisher=Matthey.com |date=31 March 2010 |accessdate=30 January 2012}}</ref>
| operating_income = [[Pound sterling|£]]250.6&nbsp;million (2010)<ref name=AR/>
| operating_income = [[Pound sterling|£]]281.2&nbsp;million (2011)<ref name=AR/>
| net_income = [[Pound sterling|£]]164.2&nbsp;million (2010)<ref name=AR/>
| net_income = [[Pound sterling|£]]184.6&nbsp;million (2011)<ref name=AR/>
| homepage = [http://www.matthey.com/ www.matthey.com]
| homepage = [http://www.matthey.com/ www.matthey.com]
}}
}}
Line 26: Line 26:
In the 1960s Johnson Matthey formed a subsidiary, Johnson Matthey Bankers (JMB), which took its seat in the [[London Gold Fixing]]. In the early 1980s the bank expanded its activities outside the bullion business and started making high-risk loans. Bank assets more than doubled between 1980 and 1984, and loans became concentrated to a few borrowers, including Mahmoud Sipra and his El Saeed group, Rajendra Sethia and ESAL Commodities, and Abdul Shamji.<ref>Portrait of an Old Lady: Turmoil at the Bank of England By: Stephen Fey ISBN 0670819344</ref> The quality of some of these loans turned out to be worse than expected, such as the £21&nbsp;million lent to Abdul Shamji of Gomba Holdings<ref>{{Cite web|url=http://www.truthaboutlloyds.com/fraud/myth85.html |title=The Truth about Lloyds |publisher=The Truth about Lloyds |date= |accessdate=18 April 2011}}</ref> (the then owner of [[Puddle Dock]] and the [[Mermaid Theatre]] in London). The size of the loans to these borrowers grew to exceed the level of the bank's capital. [Shamji was sentenced to 15 months in prison for lying about his assets during a subsequent High Court inquiry into the bank's collapse.<ref>[http://www.independent.co.uk/opinion/captain-moonlight-offstage-drama-at-the-mermaid-1466921.html Captain Moonlight: Offstage drama at the Mermaid] The Independent, 12 December 1993</ref>] Because JMB was one of five members of the London Gold Fixing, [[Bank of England]] officials were worried that if the bank became insolvent then confidence in the other bullion banks would be undermined, and that panic could spread further to the rest of the British banking system. To prevent a wider banking crisis the Bank of England organized a rescue package on the evening of 30 September 1984, purchasing JMB for £1.<ref>[http://news.bbc.co.uk/1/hi/magazine/7250668.stm When was the last nationalisation?] BBC News, February 2008</ref> Most of JMB's business was subsequently sold to Mase Westpac.
In the 1960s Johnson Matthey formed a subsidiary, Johnson Matthey Bankers (JMB), which took its seat in the [[London Gold Fixing]]. In the early 1980s the bank expanded its activities outside the bullion business and started making high-risk loans. Bank assets more than doubled between 1980 and 1984, and loans became concentrated to a few borrowers, including Mahmoud Sipra and his El Saeed group, Rajendra Sethia and ESAL Commodities, and Abdul Shamji.<ref>Portrait of an Old Lady: Turmoil at the Bank of England By: Stephen Fey ISBN 0670819344</ref> The quality of some of these loans turned out to be worse than expected, such as the £21&nbsp;million lent to Abdul Shamji of Gomba Holdings<ref>{{Cite web|url=http://www.truthaboutlloyds.com/fraud/myth85.html |title=The Truth about Lloyds |publisher=The Truth about Lloyds |date= |accessdate=18 April 2011}}</ref> (the then owner of [[Puddle Dock]] and the [[Mermaid Theatre]] in London). The size of the loans to these borrowers grew to exceed the level of the bank's capital. [Shamji was sentenced to 15 months in prison for lying about his assets during a subsequent High Court inquiry into the bank's collapse.<ref>[http://www.independent.co.uk/opinion/captain-moonlight-offstage-drama-at-the-mermaid-1466921.html Captain Moonlight: Offstage drama at the Mermaid] The Independent, 12 December 1993</ref>] Because JMB was one of five members of the London Gold Fixing, [[Bank of England]] officials were worried that if the bank became insolvent then confidence in the other bullion banks would be undermined, and that panic could spread further to the rest of the British banking system. To prevent a wider banking crisis the Bank of England organized a rescue package on the evening of 30 September 1984, purchasing JMB for £1.<ref>[http://news.bbc.co.uk/1/hi/magazine/7250668.stm When was the last nationalisation?] BBC News, February 2008</ref> Most of JMB's business was subsequently sold to Mase Westpac.


In 2008 Johnson Matthey acquired ''Argillon'', a business specialising in [[catalyst]]s, for €214&nbsp;million.<ref>{{Cite news|url=http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSWLB433020071210 |title=Johnson Matthey to buy Argillon for €214&nbsp;million |agency=Reuters |date= |accessdate=18 April 2011}}</ref>
In 2008 Johnson Matthey acquired ''Argillon'', a business specialising in [[catalyst]]s, for €214&nbsp;million.<ref>{{Cite news|url=http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSWLB433020071210 |title=Johnson Matthey to buy Argillon for €214&nbsp;million |agency=Reuters |date=18 April 2011 |accessdate=30 January 2012}}</ref> In December 2008 US subsidiary Johnson Matthey Inc was fined $3&nbsp;million for a [[felony]] violation of the United States [[Clean Water Act]], after admitting to violating the [[Clean Water Act]] at its [[Salt Lake City]] [[precious metals]] refining facility.<ref>{{Cite web|url=http://yosemite.epa.gov/opa/admpress.nsf/d0cf6618525a9efb85257359003fb69d/3116951117fc740a85257515007efa80!OpenDocument |title=Utah gold and silver refinery sentenced for Clean Water Act violation |publisher=Yosemite.epa.gov |date= |accessdate=18 April 2011}}</ref>

In October 2010 Johnson Matthey acquired ''InterCAT'', a leading supplier of Fluid Catalytic Cracking additives for the [[Oil_refinery|petroleum refining]] industry, for $56.2&nbsp;million.<ref>{{Cite news|url=http://www.reuters.com/finance/stocks/JMAT.L/key-developments/article/1993022 |title=Johnson Matthey PLC To Acquire Intercat, Inc |agency=Reuters |date= |accessdate=30 January 2012}}</ref> Also in 2010 Johnson Matthey opened a new £34&nbsp;million European emission control catalyst plant in Macedonia, which will leverage its manufacturing technology to produce catalysts for both light- and heavy-duty vehicles.<ref>{{Cite news|url=http://www.businesswire.com/news/home/20100414005910/en/Johnson-Matthey-Opens-Major-European-Emission-Control |title=Johnson Matthey Opens Major New European Emission Control Catalyst Plant in Macedonia |agency=Business Wire |date=30 January 2012 |accessdate=30 January 2012}}</ref>


In December 2008 US subsidiary Johnson Matthey Inc was fined $3&nbsp;million for a [[felony]] violation of the United States [[Clean Water Act]], after admitting to violating the [[Clean Water Act]] at its [[Salt Lake City]] [[precious metals]] refining facility.<ref>{{Cite web|url=http://yosemite.epa.gov/opa/admpress.nsf/d0cf6618525a9efb85257359003fb69d/3116951117fc740a85257515007efa80!OpenDocument |title=Utah gold and silver refinery sentenced for Clean Water Act violation |publisher=Yosemite.epa.gov |date= |accessdate=18 April 2011}}</ref>


==Operations==
==Operations==


The company's head office is located in [[Hatton Garden]], [[central London]]. The principal operating facility in the UK is located at [[Royston, Hertfordshire|Royston]] in [[Hertfordshire]], with other facilities in [[Edinburgh]], [[Brimsdown Industrial Estate|Brimsdown]] in [[London Borough of Enfield|Enfield]], [[north London]], [[Billingham]] in [[Teesside]] and [[Clitheroe]] in [[Lancashire]] as well as a large facility in Germiston, South Africa. The company's UK Technology Centre is based at [[Sonning Common]] in [[Oxfordshire]]. In the US its principal site is located at [[West Deptford]], [[New Jersey]].
The company's head office is located on Farringdon Street, [[central London]]. The principal operating facility in the UK is located at [[Royston, Hertfordshire|Royston]] in [[Hertfordshire]], with other facilities in [[Edinburgh]], [[Brimsdown Industrial Estate|Brimsdown]] in [[London Borough of Enfield|Enfield]], [[north London]], [[Billingham]] in [[Teesside]] and [[Clitheroe]] in [[Lancashire]] as well as a large facility in Germiston, South Africa. The company's UK Technology Centre is based at [[Sonning Common]] in [[Oxfordshire]]. In the US its principal site is located at [[West Deptford]], [[New Jersey]].


The company now has three divisions:<ref>{{Cite web|url=http://www.matthey.com/about/divisions.htm |title=Johnson Matthey Divisions |publisher=Matthey.com |date= |accessdate=18 April 2011}}</ref>
The company has three divisions:<ref>{{Cite web|url=http://www.matthey.com/about/divisions.htm |title=Johnson Matthey Divisions |publisher=Matthey.com |date= |accessdate=18 April 2011}}</ref>
*'''Environmental Technologies''' manufactures [[catalysts]] and [[catalytic converters]] for the automobile sector, [[automobile emissions control]]s and [[fuel cell]]s.
*'''Environmental Technologies''' manufactures [[catalysts]] and [[catalytic converters]] for the automobile sector, [[automobile emissions control]]s and [[fuel cell]]s.
*'''Precious Metals''' refines and distributes [[platinum]], [[palladium]], [[rhodium]], [[iridium]], [[ruthenium]], gold and silver. Johnson Matthey is the world leader in platinum distribution and the sole marketing agent for [[Anglo Platinum]], the world’s largest producer of platinum. It also produces colour technology products for the glass and ceramics industries.
*'''Precious Metals''' refines and distributes [[platinum]], [[palladium]], [[rhodium]], [[iridium]], [[ruthenium]], gold and silver. Johnson Matthey is the world leader in platinum distribution and the sole marketing agent for [[Anglo Platinum]], the world’s largest producer of platinum. It also produces colour technology products for the glass and ceramics industries.
*'''Fine Chemicals & Catalysts''' manufactures fine chemicals, electrochemical products and pharmaceutical ingredients, including chemicals for research and development under the [[Alfa Aesar]] brand.
*'''Fine Chemicals & Catalysts''' manufactures fine chemicals, electrochemical products and pharmaceutical ingredients, including chemicals for research and development under the [[Alfa Aesar]] brand.


Johnson Matthey has opened a new £34&nbsp;million European emission control catalyst plant in Macedonia, which will leverage its manufacturing technology to produce catalysts for both light- and heavy-duty vehicles.


==References==
==References==

Revision as of 17:07, 30 January 2012

Johnson Matthey plc
Company typePublic limited company
(LSE: JMAT)
IndustryChemicals
Precious metals
Founded1817
HeadquartersLondon, United Kingdom
Key people
T E P Stevenson OBE (Chairman)
Neil Carson (CEO)
ProductsPrecious Metals, Industrial catalysts
Revenue£9,984.8 million (2011)[1]
£281.2 million (2011)[1]
£184.6 million (2011)[1]
Number of employees
9,700 (2012)[2]
Websitewww.matthey.com

Johnson Matthey plc (LSE: JMAT) is multinational chemicals and precious metals company headquartered in London, United Kingdom.

It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

Johnson Matthey traces its origins to 1817, when Percival Norton Johnson set up business as a gold assayer in London.[3] In 1851 George Matthey joined the business and its name was changed to Johnson & Matthey.[3] The following year the firm was appointed Official Assayer & Refiner to the Bank of England.[3] The company had branches in the cities of Birmingham and Sheffield to supply the jewellery and silverware and cutlery trade with raw materials ancillary supplies, such as silver solder and flux which it manufactured.

In the 1960s Johnson Matthey formed a subsidiary, Johnson Matthey Bankers (JMB), which took its seat in the London Gold Fixing. In the early 1980s the bank expanded its activities outside the bullion business and started making high-risk loans. Bank assets more than doubled between 1980 and 1984, and loans became concentrated to a few borrowers, including Mahmoud Sipra and his El Saeed group, Rajendra Sethia and ESAL Commodities, and Abdul Shamji.[4] The quality of some of these loans turned out to be worse than expected, such as the £21 million lent to Abdul Shamji of Gomba Holdings[5] (the then owner of Puddle Dock and the Mermaid Theatre in London). The size of the loans to these borrowers grew to exceed the level of the bank's capital. [Shamji was sentenced to 15 months in prison for lying about his assets during a subsequent High Court inquiry into the bank's collapse.[6]] Because JMB was one of five members of the London Gold Fixing, Bank of England officials were worried that if the bank became insolvent then confidence in the other bullion banks would be undermined, and that panic could spread further to the rest of the British banking system. To prevent a wider banking crisis the Bank of England organized a rescue package on the evening of 30 September 1984, purchasing JMB for £1.[7] Most of JMB's business was subsequently sold to Mase Westpac.

In 2008 Johnson Matthey acquired Argillon, a business specialising in catalysts, for €214 million.[8] In December 2008 US subsidiary Johnson Matthey Inc was fined $3 million for a felony violation of the United States Clean Water Act, after admitting to violating the Clean Water Act at its Salt Lake City precious metals refining facility.[9]

In October 2010 Johnson Matthey acquired InterCAT, a leading supplier of Fluid Catalytic Cracking additives for the petroleum refining industry, for $56.2 million.[10] Also in 2010 Johnson Matthey opened a new £34 million European emission control catalyst plant in Macedonia, which will leverage its manufacturing technology to produce catalysts for both light- and heavy-duty vehicles.[11]


Operations

The company's head office is located on Farringdon Street, central London. The principal operating facility in the UK is located at Royston in Hertfordshire, with other facilities in Edinburgh, Brimsdown in Enfield, north London, Billingham in Teesside and Clitheroe in Lancashire as well as a large facility in Germiston, South Africa. The company's UK Technology Centre is based at Sonning Common in Oxfordshire. In the US its principal site is located at West Deptford, New Jersey.

The company has three divisions:[12]

  • Environmental Technologies manufactures catalysts and catalytic converters for the automobile sector, automobile emissions controls and fuel cells.
  • Precious Metals refines and distributes platinum, palladium, rhodium, iridium, ruthenium, gold and silver. Johnson Matthey is the world leader in platinum distribution and the sole marketing agent for Anglo Platinum, the world’s largest producer of platinum. It also produces colour technology products for the glass and ceramics industries.
  • Fine Chemicals & Catalysts manufactures fine chemicals, electrochemical products and pharmaceutical ingredients, including chemicals for research and development under the Alfa Aesar brand.


References

  1. ^ a b c "Annual Report 2011". Matthey.com. 31 March 2010. Retrieved 30 January 2012.
  2. ^ "Johnson Matthey Annual Report 2011". Matthey.com. 30 January 2012. Retrieved 30 January 2012.
  3. ^ a b c "Johnson Matthey History". Matthey.com. Retrieved 18 April 2011.
  4. ^ Portrait of an Old Lady: Turmoil at the Bank of England By: Stephen Fey ISBN 0670819344
  5. ^ "The Truth about Lloyds". The Truth about Lloyds. Retrieved 18 April 2011.
  6. ^ Captain Moonlight: Offstage drama at the Mermaid The Independent, 12 December 1993
  7. ^ When was the last nationalisation? BBC News, February 2008
  8. ^ "Johnson Matthey to buy Argillon for €214 million". Reuters. 18 April 2011. Retrieved 30 January 2012.
  9. ^ "Utah gold and silver refinery sentenced for Clean Water Act violation". Yosemite.epa.gov. Retrieved 18 April 2011.
  10. ^ "Johnson Matthey PLC To Acquire Intercat, Inc". Reuters. Retrieved 30 January 2012.
  11. ^ "Johnson Matthey Opens Major New European Emission Control Catalyst Plant in Macedonia". Business Wire. 30 January 2012. Retrieved 30 January 2012.
  12. ^ "Johnson Matthey Divisions". Matthey.com. Retrieved 18 April 2011.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Johnson_Matthey&oldid=474060893"