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Finance

UK's Johnson Matthey bets on US power demand with $360 million Cormetech buy

Published by Global Banking & Finance Review

Posted on May 28, 2026

1 min read

· Last updated: May 28, 2026

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Johnson Matthey to Acquire Cormetech for $360M, Eyes US Power Growth

Johnson Matthey's Strategic Acquisition and Financial Outlook

Acquisition of Cormetech

May 28 (Reuters) - British chemicals company Johnson Matthey said on Thursday it would buy Cormetech for $360 million, betting on growth in the U.S. power generation market amid strong demand for emission control at data centres.

Financial Projections and Analyst Expectations

Profit Forecasts Excluding Major Transactions

The company said it expects group underlying operating profit to rise in the low- to mid-single-digit percentage for the year ending March 31, 2027, excluding the planned divestment of Catalyst Technologies and purchase of Cormetech.

Analyst Consensus for 2026-27

For 2026-27, analysts expect underlying operating profit of £364.8 million, according to a company-compiled consensus.

Recent Profit Growth

FY25/26 Performance

Johnson Matthey reported £340 million in FY25/26 profit, up 14% from a year earlier.

Reporting Credits

(Reporting by Nithyashree R B and Neeshita Beura in Bengaluru; Editing by Subhranshu Sahu)

Key Takeaways

  • JM is betting on growing U.S. power sector emissions-control demand, especially from expanding data centre activity, by acquiring Cormetech for $360 million. (cormetech.com)
  • The acquisition comes as JM’s underlying operating profit rose £340 million in FY 2025/26, and analysts expect approximately £365 million in FY 2026/27—implying low- to mid-single‑digit growth excluding the Cormetech deal and the planned Catalyst Technologies divestment. (sahmcapital.com)
  • U.S. power generation is undergoing a transformation—nearly 90 % of coal capacity now features pollution controls, and demand from data centres and electrification is fuelling further need for such technologies. This aligns with Cormetech’s strong proprietary position across U.S. plants. (epa.gov)

References

Frequently Asked Questions

What is the value of Johnson Matthey's acquisition of Cormetech?
Johnson Matthey is acquiring Cormetech for $360 million.
Why is Johnson Matthey buying Cormetech?
Johnson Matthey is betting on growth in the US power generation market, driven by strong demand for emission control at data centres.
What are Johnson Matthey's profit expectations after the acquisition?
The company expects underlying operating profit to rise in the low- to mid-single-digit percentage by March 31, 2027, excluding the Catalyst Technologies divestment and Cormetech acquisition.
How much profit did Johnson Matthey report for FY25/26?
Johnson Matthey reported £340 million in profit for FY25/26, up 14% from the previous year.

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