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    JMAT   GB00BZ4BQC70

JOHNSON MATTHEY PLC

(JMAT)
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Johnson Matthey, FMG to build Finland EV materials plant

04/19/2021 | 02:49am EDT

* To produce cathodes material for EV batteries

* Capacity of 30,000 tonnes per year

* Nornickel, SQM to supply plant

* Construction to start this year

MOSCOW, April 19 (Reuters) - Johnson Matthey and state investor Finnish Minerals Group (FMG) have agreed to build a plant to produce cathode materials used in electric vehicle (EV) batteries.

The plant will have a capacity of 30,000 tonnes of cathode materials and be powered by renewable energy, Johnson Matthey said in a statement, adding that construction is expected to start this year.

Russia's Nornickel will supply nickel and cobalt from its Harjavalta refinery in Finland and Chile's SQM will supply lithium hydroxide, Johnson Matthey said.

"The developments with Nornickel and SQM, in conjunction with the investment by Finnish Minerals Group, form an important part of the sustainable supply chain for our cathode materials plants in both Finland and Poland," Johnson Matthey said.

The plant will be part of an EV battery cluster in Finland which also includes German chemicals maker BASF and Finnish utility Fortum.

Nornickel, a top producer of nickel, said last week it would boost output of nickel products at Harjavalta. (Reporting by Polina Devitt; editing by Louise Heavens and Edmund Blair)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BASF SE -0.23% 63.79 Delayed Quote.-1.44%
FORTUM OYJ -1.79% 25.82 Delayed Quote.31.07%
JOHNSON MATTHEY PLC 0.55% 2762 Delayed Quote.13.90%
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Financials
Sales 2022 4 370 M 5 974 M 5 974 M
Net income 2022 429 M 586 M 586 M
Net Debt 2022 980 M 1 340 M 1 340 M
P/E ratio 2022 12,5x
Yield 2022 2,94%
Capitalization 5 321 M 7 273 M 7 273 M
EV / Sales 2022 1,44x
EV / Sales 2023 1,38x
Nbr of Employees 13 258
Free-Float 95,4%
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 2 762,00 GBX
Average target price 3 336,37 GBX
Spread / Average Target 20,8%
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Managers and Directors
Robert James MacLeod Chief Executive Officer & Executive Director
Stephen Oxley Chief Financial Officer & Executive Director
Patrick Webster Thomas Chairman-Supervisory Board
Paul Jonathan Coby Chief Information Officer
Maurits van Tol Chief Technology Officer
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