Business Services Industry
Britain's Johnson Matthey Seeks Stake in U.S. Engineering Firm.
Knight Ridder/Tribune Business News, October, 1998 by Financial Mail on Sunday, London
Knight Ridder/Tribune Business News
Oct. 25--Johnson Matthey has emerged as front runner to buy Minorco's $740 million (UKpound 438 million) stake in US engineering conglomerate Engelhard.
The 33 percent stake has been put up for sale by Minorco's sister company, South African mining giant Anglo American, which is taking over Minorco. Anglo has also announced a move to London from South Africa.
The stake in Engelhard is not seen as a core interest for the merged group, but would be attractive for Matthey, the engineering and precious metals combine.
Engelhard has six businesses -- chemical catalysts, engineered materials, environmental technologies, industrial commodities management, petroleum catalysts and pigments. Matthey is...
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