18 Aug 2023 14:16

Johnson Matthey autocatalyst plant in Russia transferred to local management

KRASNOYARSK. Aug 18 (Interfax) - The world's largest producer of materials for autocatalysts, British company Johnson Matthey, has withdrawn from its business in Russia, transferring its Krasnoyarsk plant to the ownership of Catalysts and Technologies LLC (Krasnoyarsk).

According to the Unified State Register of Legal Entities, at the end of June, 100% of the shares of Jones Matthey Catalysts LLC (the autocatalyst plant's legal entity in Krasnoyarsk) were transferred to the management of Catalysts and Technologies LLC. In early July, Jones Matthey Catalysts LLC was renamed Ecotexis LLC.

According to the Unified State Register of Legal Entities, Catalysts and Technologies LLC is equally owned by Leonid Rakitin, general director of Ecotexis LLC, as well as Andrey Kosov and Vadim Nevenchenko. As such, Johnson Matthey's business in Russia was transferred to the Russian executive management team.

According to the Kommersant newspaper, production at the plant is due to be resumed.

Jones Matthey Catalysts LLC (currently Ecotexis) was established in 2006 and specializes in the production of parts and accessories for cars and their engines, as well as providing laboratory analysis and testing services. The company's revenue in 2022 amounted to 1.4 billion rubles, down almost 6 times from 2021. The company also posted a net loss of 374.2 million rubles compared to profit of 926.6 million rubles in 2021.

Johnson Matthey was founded in 1817 and its shares have been traded on the London Stock Exchange since 1901. The company produces one-third of the world's automotive catalysts, as well as ingredients for medical products, complex chemical compounds, and is also engaged in refining. According to the company's latest report posted on its website, Johnson Matthey has closed its Moscow office, ceased all new commercial activities in Russia and suspended production at its Krasnoyarsk plant.