Johnson Matthey pre-close trading update for half year ending 30 Sep 2007

• Publisher: Elsevier Science
• Year: 2007
• Weight: 48 KB
• Volume: 2007
• Category: Article
• ISSN: 1351-4180
• DOI: 10.1016/s1351-4180(07)70649-9

✦ Synopsis

Acquired by Carlyle in Jun 2007, PQ Corp is to merge with Ineos Silicas, thereby creating a new giant in the silica compounds sector. The new entity (which will retain the PQ Corporation name) will be a 60:40 joint venture between Carlyle and Ineos. In 2005 the UK group put the business up for sale but finally abandoned the plan when no suitable offers were forthcoming. The new company will have a turnover of $1 bn and 2800 employees. Market leaders in their respective regions, the 2 companies have capacities of: 720,000 tonne/y silicates; 180,000 tonne/y zeolites; and 45,000 tonne/y silicas. Ineos Silicas has 7 factories in the UK, The Netherlands, USA, Brazil, S Africa and Indonesia. PQ has 60 production units in 19 countries.