Johnson Matthey buys Applied Utility Systems

1st Oct 2009 07:32

Specialty chemicals firm Johnson Matthey said it has bought the assets of Applied Utility Systems from Catalytic Solutions for $8.5m in cash plus $1.5m subject to certain contingencies. California based Applied Utility Systems designs and supplies systems used in gas turbines for power generation, industrial boilers and steam generators which are subject to increasingly strict emissions standards around the world. Applied Utility employs 20 people.The deal would, "enable Johnson Matthey to increase its sales of catalysts and emission control systems into the growing global market for NOx control and to expand the range of applications that its SEC business serves," it explained. Commenting on the transaction, Neil Carson, chief executive of Johnson Matthey said, "The acquisition of Applied Utility Systems is a further step in our strategy of making bolt-on acquisitions in our core business area of environmental technologies. It will enhance the capability of our Stationary Emissions Control business to serve a greater range of applications for controlling harmful NOx emissions."