Johnson Matthey (JM) completed the sale of its Catalyst Technologies (CT) business to Honeywell International (Honeywell) for an enterprise value of £1,325 million on a cash and debt-free basis today.  

CT is a global provider of catalysts and process technologies that enable decarbonisation of the chemical and energy industries and the production of essential chemicals and sustainable fuels. 

JM expects to return £1billion of net sale proceeds to its shareholders, comprising £800 million through a special dividend with share consolidation, and £200 million through an on-market share buyback programme. 

Liam Condon, Chief Executive Officer, commented: We are pleased to have completed the sale of Catalyst Technologies to Honeywell. This is a significant milestone for Johnson Matthey as we transform into a focused, lean and cash generative group, underpinned by our world leading PGM expertise. We are grateful to our Catalyst Technologies colleagues for their significant contributions to Johnson Matthey over the years and wish the whole team every success for the future.

"As announced on 23rd February 2026, and subject to shareholder approval, the Board confirms its intention to return £1 billion of net sale proceeds to JM shareholders, comprising £800 million through a special dividend with share consolidation and £200 million through an on-market share buyback programme."

The transaction represents a significant milestone for JM as it transforms into a focused, lean and cash generative group, underpinned by world-leading PGM expertise.

The CT team has made a significant contribution to JM over the years and is set for continued success as part of Honeywell.