LONDON (Alliance News) - Chemicals company Johnson Matthey PLC on Thursday said it has completed the sale of its Alfa Aesar Research Chemicals unit to Thermo Fisher Scientific Inc for GBP256.0 million in cash.
The FTSE 100-listed company agreed the sale of the business to Thermo, the US biotechnology company, in June.
"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 Robert MacLeod, Johnson Matthey's chief executive.
Shares in Johnson Matthey were up 3.0% to 2,522.00 pence Thursday, one of the best performers in the FTSE 100.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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