Johnson Matthey buys Cormetech for 360 million dollars
The British chemicals firm is acquiring Cormetech to expand its emissions control business into the growing U.S. data centre market. While the deal is expected to boost earnings from 2027, the company forecasts slower profit growth for the coming fiscal year due to higher refinery maintenance costs.
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JOHNSON MATTHEY PLC will acquire Cormetech for $360 million to enter the data center emissions market. The deal is the first major acquisition under CEO Liam Condon as Johnson Matthey pivots from automotive filters. Investors are weighing this expansion against a projected slowdown in profit growth for fiscal 2027.
