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(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
2010–2011 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.
mrcplast.com
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