Johnson Matthey exits battery materials business
The news that Johnson Matthey (LSE:JMAT) was out of the battery business came as a shock to most industry participants. Johnson Matthey had invested big in its battery materials unit. Over £340m was spent during the past five years. The group had built up a huge research base in the UK and was seen as an integral part of the UK Government’s battery plan. That is all out the window now following JMAT’s announcement. It isn’t the first time that JMAT has disappointed the market with this business. There have already been a number of delays and cost over-runs and...