Autocatalyst facility, Korea
Johnson Matthey PLC
09 September 2005
For release at 7.00 am, Friday 9th September 2005
Johnson Matthey to build Autocatalyst facility in Korea
At a ceremony held yesterday in Royston, UK, Johnson Matthey signed a Memorandum
of Understanding (MOU) with senior representatives of Gyeonggi province,
Republic of Korea, to secure a green field site as the first step in a
multi-million pound investment in Korea. The site is located in a new high
technology science park near Jangan in Gyeonggi province, 50 kilometres south
west of Seoul.
Over the last decade Korea has emerged as a leading player in the global
automotive industry and Johnson Matthey plans to build a plant to manufacture
emission control catalysts for a wide range of both diesel and petrol powered
vehicles. The new facility will also carry out research and development
activities and will include vehicle and engine emission test capabilities to
support the Korean motor industry.
The MOU was signed by Larry Pentz, Executive Director, Environmental Catalysts
and Technologies and Sohn, Hak-Kyu, the Governor of Gyeonggi province. The
signing ceremony was also attended by other senior representatives of Gyeonggi
province, the Korean Embassy in London and KOTRA, the Korean Trade - Investment
Promotion Agency. Following the signing ceremony, the Korean delegation was
given a tour of Johnson Matthey's European Autocatalyst Technology Centre and of
the extensive emission control catalyst production facilities on the Royston
site.
Commenting on Johnson Matthey's investment plans, Larry Pentz said "We recognise
the growing importance of the Korean automotive industry and its strategic
position in the global vehicle market. Furthermore, we expect Korea to be one of
Asia's most important markets for heavy duty diesel catalysts as emission
standards continue to tighten throughout the region. We feel the time is right
to invest in Korea and are very pleased with our relationship with Gyeonggi
province; it is the perfect location for us to establish a major presence is
this key market. We are honoured that the Governor Sohn and his delegation were
able to visit us today"
Speaking at the signing ceremony, Governor Sohn said: "We are delighted that
Johnson Matthey has selected Gyeonggi province for this important investment. It
is our aim to attract high technology companies, with progressive, long-term
plans to establish R&D and manufacturing facilities in our province in order to
serve Korea and the Asia region. We look forward to the next phase of this
investment"
Enquiries:
Ian Godwin Director, Corporate Communications 020 7269 8410
Mobile 07967 278410
Howard Lee The HeadLand Consultancy 020 7036 0369
Mobile 07836 785993
www.matthey.com
Notes for Editors:
About Johnson Matthey
Johnson Matthey is a speciality chemicals company focused on its core skills in
catalysts, precious metals and fine chemicals.
The group's principal activities are the manufacture of autocatalysts and
pollution control systems, catalysts and components for fuel cells,
pharmaceutical compounds, process catalysts and fine chemicals; the refining,
fabrication and marketing of precious metals; and the manufacture of colours and
coatings for the glass and ceramics industries.
Johnson Matthey has continued to develop its technology for almost 200 years,
demonstrating the company's ability to maintain world leadership by adapting
constantly to rapidly changing customer needs. Rigorous in its own environmental
policies, many of Johnson Matthey's products have a major beneficial impact on
the environment and enhance the quality of life for millions around the world.
Johnson Matthey has operations in 34 countries and employs around 7,400 people.
Its products are sold across the world to a wide range of advanced technology
industries.
The company's Catalysts Division operates globally under the market identity of
Johnson Matthey Catalysts and consists of 3 separate business units.
Environmental Catalysts and Technologies (ECT), which manufactures catalysts for
automobile emission control and the reduction of emissions from industrial
processes, the Fuel Cell business which manufactures fuel cell catalysts and
catalysed components and the Process Catalysts and Technologies (PCT) business
comprising PGM refining, process catalysts and fine and research chemicals.
ECT comprises Johnson Matthey's global autocatalyst, heavy duty diesel and
stationary source emissions control businesses. The company is a world leading
manufacturer of catalysts for vehicle exhaust emission control and a leader in
catalyst systems for the reduction of volatile organic compound emissions from
industrial processes. Manufacturing facilities are located in the USA, UK,
Belgium, Mexico, Argentina, South Africa, Japan, Malaysia, India and China. R&D
facilities are in the USA, UK, Sweden, Japan and Brazil.
About the Korean Motor Industry
Korea has been producing automobiles since the mid 1950's but the Korean motor
industry has grown rapidly over the last two decades. Today Korea is the world's
6th largest car manufacturing nation, producing nearly 3.5 million vehicles in
2004. This represents 5.4% of total world car production and Korea is
challenging France for 5th place. Almost 2.4 million of these vehicles were
exported to markets around the world. Automobiles have been Korea's biggest
export since 2001, ahead of semiconductors, mobile phones, computers and
shipbuilding.
Korea plans to become the world's fourth largest car producer, with a target of
manufacturing 10% of all the cars produced each year by 2012. Korean car
companies have established manufacturing operations around the world with
facilities in Eastern Europe, the Middle East, Africa, India, China and many
other parts of Asia as well as in North and South America.
Through initiatives such as its "Future Automobile Development Project" the
Korean motor industry is committed to developing the next generations of safe,
environmentally friendly cars. These include the development of environmentally
friendly diesel engines and hybrid vehicles and, in the longer term, fuel cell
powered cars.
This information is provided by RNS
The company news service from the London Stock Exchange
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