Honeywell agrees to buy Johnson Matthey’s catalysts business for $2.4bn
US industrial tech firm Honeywell has agreed to acquire UK chemicals-and-tech business Johnson Matthey’s Catalyst Technologies business for £1.8bn ($2.4bn). The deal will expand its proposition in hydrogen, ammonia, and sustainable aviation fuel (SAF).
The acquisition is a fit with Honeywell’s UOP unit, which will strengthen its position in lower-emission fuels once the deal completes. For the first time, the company will be able to offer solutions to produce sustainable methanol, SAF, blue hydrogen, and blue ammonia.
Vimal Kapur, Chairman and CEO of Honeywell, said buying these catalyst technologies broadens Honeywell’s role as a technology provider of energy needed to drive growth into the future.
“As demand for diversified sources of energy continues accelerating, it will better enable Honeywell to offer the innovation our customers need,” he added.
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