MINR Ft Minr

RNS No 3510q
JOHNSON MATTHEY PLC
3rd June 1998


            Johnson Matthey sells UK Minerals Business

Johnson Matthey announces that it has sold its UK Minerals business to Tilcon
South Limited, part of Minorco, for approximately #6.0 million.

The UK Minerals business was part of Johnson Matthey's Ceramic Materials
Division which was formed after the recent acquisition of 100% of Cookson
Matthey Ceramics plc, Johnson Matthey's former joint venture with Cookson
Group. The business activities of UK Minerals include the processing and
resale of a variety of minerals used in applications ranging from brick
manufacturing,
refractory glazes, and thermal insulation products to road surfacing and floor
products.

In the year ended 31st December 1997 the business earned operating profits of
approximately #0.9 million on sales of #10.8 million and had net assets of
approximately #4.0 million.  

Chris Clark, Johnson Matthey's Chief Operating Officer, commented:

"Since establishing our Ceramic Materials Division we have been taking steps
to focus the business on its core ceramic markets, reduce costs and improve
returns.  The sale of UK Minerals, which is peripheral to our mainstream
activities, is one more step in that process."

Enquiries:

Ian Godwin - Group Public Relations Manager       0171- 269 8410
Howard Lee - Gavin Anderson & Co                  0171- 457 2345

END


DISFLGGVRZZLRMM

Ft Minr (LSE:MINR)
Historical Stock Chart
From Jun 2024 to Jul 2024

Ft Minr (LSE:MINR)
Historical Stock Chart
From Jul 2023 to Jul 2024