By Rory Gallivan and Neil Haggerty
U.K. specialty chemicals company Johnson Matthey PLC (JMAT.LN)
Thursday said it has sold its Alfa Aesar Research Chemicals
business to U.S. biotechnology company Thermo Fisher Scientific Inc
(TMO) for 256 million pounds ($406.7 million).
"The divestment of the Research Chemicals business is a further
step in delivering our long term strategy to focus the group on
growth areas where we can apply our expertise in complex chemistry
to create long term value for our shareholders," said Johnson
Matthey Chief Executive Officer Robert MacLeod.
Thermo Fisher, based in Massachusetts, says the purchase of the
480-employee company will enhance its existing portfolio of
chemicals, solvents and reagents. Alfa Aesar will be integrated
into Thermo's Fisher's laboratory products and services
segment.
The transaction is expected to be completed by the end of 2015
and is subject to closing conditions, including regulatory
approvals.
Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
Subscribe to WSJ: http://online.wsj.com?mod=djnwires