Johnson Matthey moves to spin-off electronics materials business Richard Wilson
Precious metals supplier, Johnson Matthey, is planning to spin-off its electronic materials business as a separate unit.
According to company chief executive, Chris Clark: "Electronic Materials will be brought together in a single legal entity which will allow the group to exploit fully opportunities for releasing value for shareholders."
The group saw profits in the electronics business, which supplies PCB and semiconductor manufacturers, fall by 29 per cent to ?12.7m in the first half of the year as a result of the slump in the semiconductor market.