Johnson Matthey Completes Sale of Ceramic Insulator and Alumina Businesses

Johnson Matthey said earlier today that it has completed the sale of its ceramic insulators and alumina businesses in Germany, Poland and Romania to Lapp Insulator (Le Roy, NY) for €21 million ($27.2 million) in cash plus a €2 million vendor loan note. Johnson Matthey had acquired the ceramic insulator and alumina businesses as part of its February 2008 acquisition of catalysts and advanced ceramic materials group Argillon (Redwitz, Germany) from Ceramics Luxembourg (Luxembourg) for €214 million.   Johnson Matthey this week disclosed in its...

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