Johnson Matthey to Sell Research Chemicals Business for GBP256 Million -- Update

  By Rory Gallivan and Neil Haggerty 
 

U.K. specialty chemicals company Johnson Matthey PLC (JMAT.LN) Thursday said it has sold its Alfa Aesar Research Chemicals business to U.S. biotechnology company Thermo Fisher Scientific Inc (TMO) for 256 million pounds ($406.7 million).

"The divestment of the Research Chemicals business is a further step in delivering our long term strategy to focus the group on growth areas where we can apply our expertise in complex chemistry to create long term value for our shareholders," said Johnson Matthey Chief Executive Officer Robert MacLeod.

Thermo Fisher, based in Massachusetts, says the purchase of the 480-employee company will enhance its existing portfolio of chemicals, solvents and reagents. Alfa Aesar will be integrated into Thermo's Fisher's laboratory products and services segment.

The transaction is expected to be completed by the end of 2015 and is subject to closing conditions, including regulatory approvals.

Write to Rory Gallivan at [e-mail]; Twitter: @RoryGallivan

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