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UK-headquartered specialty chemicals company to target new areas of future growth

June 02/2011

(ICIS) -- Johnson Matthey is increasing investment in research and development (R&D) to target new areas of future growth for its business, the UK-headquartered specialty chemicals company said on Thursday. The company posted a net profit of EUR 207.6m, USD 297.8m for its 2010Ц2011 fiscal year, up 11% from the previous year. In its outlook, Johnson Matthey predicts its fine chemicals division will continue to grow steadily in 2011 and 2012.

Demand is expected to increase in active pharmaceutical ingredient (API) and new products, driven by additional capacity following its acquisition of an API plant in Conshohocken, near Philadelphia in the US, in November 2010, the company added.

An increase in useable natural gas reserves, particularly shale gas, is set to play a major role during the next decade.

Johnson Matthey says shale gas will supply 40% of US gas by 2020, as new shale formations are being regularly found around the world.

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