Johnson Matthey sells medical device components business for $700M [Seeking Alpha]
JOHNSON MATTHEY S/ADR (JMPLY)
NASDAQ:AMEX Investor Relations:
matthey.com/investor
Company Research
Source: Seeking Alpha
The MDC business produces components for medical device manufacturers globally with a focus on precious metal alloys and nitinol. With this sale and a separate sale of Battery Systems business, the company concluded its divestment program for Value Businesses that was originally announced in May 2022. The board's current intention to return to shareholders £250M of the net proceeds of the sale of MDC by way of an on-market share buyback programme. The balance of the net proceeds will be used to repay some of JM's existing debt and for other general corporate purposes. The transaction is expected to close in Q3 2024. Recommended For You More Trending News JMPLY - Johnson Matthey Plc Recommended For You More Trending News About JMPLY Stock Related Stocks Trending Analysis Trending News
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