JMPLF - Johnson Matthey to divest part of its Battery Materials business to EV Metals Group

Johnson Matthey (OTCPK:JMPLF) to divest part of its Battery Materials business to EV Metals Group, a global battery chemicals and technology business for a total consideration of £50M in cash and Johnson Matthey will receive a minority equity stake in EV Metals. The sale includes Johnson Matthey's assets at the Battery Technology Centre in Oxford & Battery Technology Centre and pilot plant in Billingham, a research centre in Moosburg, Germany and the partly constructed site in Konin, Poland. The sale does not include Johnson Matthey's LFP facility in Canada, which will be acquired by Nano One®, a clean technology innovator in battery materials. EV Metals Group committed to investing in the business to commercialise CAM technology and preserve skilled jobs in UK. The deal is expected to complete over Summer 2022.

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Johnson Matthey to divest part of its Battery Materials business to EV Metals Group