Back The Guardian Johnson Matthey hopes investors keep faith as battery failure formalised
Search Sections 28 Nov
Close
Advertisement
24 Nov 2:47pm

Johnson Matthey hopes investors keep faith as battery failure formalised

The Guardian
With converters expected to generate £4bn over next decade, questions mark is over how company deploys that cash The board of Johnson Matthey still couldn’t summon a mea culpa as the financial pain of closing the electric battery unit was formalised as a thumping £314m impairment charge. Six months ago, remember, its chief executive, Robert MacLeod, was singing the praises of the adventure, including announcing a second factory in Finland. Acceptance that Johnson Matthey had been outmuscled by bigger competitors came very late in the day. Still, there was news of £200m share buyback, which was presumably an attempt to keep investors sweet until MacLeod’s replacement, Liam Condon, arrives next March from Bayer to conduct the inevitable strategic review. It was also a reminder that, even after
Read full story
 Like Comment
Advertisement

Comments

No comments yet...
On the top

Date settings

Today is Sunday, November 28, 2021

+ 1 -
+ 1 -
+ 2016 -

Close

By using our website, you agree to the use of cookies as described in our cookie policy.

Accept

The Guardian

Close