Johnson Matthey to buy US emissions catalyst maker Cormetech for up to $460 million

Johnson Matthey PLC (LSE:JMAT), the FTSE 100 specialty chemicals group, is acquiring Cormetech, the leading US manufacturer of selective catalytic reduction (SCR) catalysts, for an enterprise value of $360 million in cash. An additional earn-out of up to $100 million may be payable in 2028 and 2029 if Cormetech hits certain financial targets.