Johnson Matthey plc (JM; London) announced the sale of its Advanced Glass Technologies (AGT) business, a leading global provider of specialist glass enamels and precious metal pastes supplied mainly to the automotive sector. AGT is part of Value Businesses in JM’s ‘Other Markets’ segment and was previously identified as non-core to JM’s growth strategy.
AGT will be sold to Fenzi Holdings SPV S.p.A (Fenzi Group), a manufacturer and supplier of materials for flat glass processing.
The transaction is subject to works council consultation in the Netherlands and the satisfaction of customary completion conditions with completion expected in spring 2022.
The divestment of AGT is consistent with our aim of creating a simpler, more focused portfolio.