Key highlights
- Johnson Matthey to buy Cormetech for $360 million enterprise value, payable in cash on completion
- Transaction expected to complete end-June or July 2026, subject to customary regulatory approvals
- Cormetech makes SCR catalysts for stationary emissions control, has a $1 billion project pipeline and is positioned for US AI/data-centre demand with strong 2026/27 growth expected
Transaction details
Johnson Matthey has agreed to acquire Cormetech, a US manufacturer of selective catalytic reduction (SCR) catalysts, for an enterprise value of $360 million payable in cash on completion.
Timeline and approvals
Deal completion is expected at the end of June or in July 2026, subject to customary regulatory approvals.
Strategic rationale
Cormetech’s SCR technologies complement Johnson Matthey’s catalyst capabilities and extend its Clean Air Solutions offering into stationary emissions control for power generation and industrial applications.
Market position and outlook
Cormetech is positioned to benefit from US AI and data‑centre build‑outs, has a $1 billion project pipeline, and is expected to deliver strong growth in 2026/27.
