Johnson Matthey, a specialty chemicals firm, has announced the acquisition of US catalyst maker Cormetech for up to £343 million. This strategic move aims to capitalize on the growing demand for data centers, particularly in the US, where Cormetech has secured significant orders and a substantial project pipeline.

• 01The acquisition deal is valued at up to £343 million, including a base price of £269 million and potential performance-related payouts of £75 million.
• 02Cormetech has secured approximately £224 million in orders over the next two years, with a project pipeline worth around £750 million.
• 03Johnson Matthey's pre-tax profit fell by 77% to £91 million for the year ending March, although underlying profits rose by 11% to £271 million.
• 04The acquisition aligns with Johnson Matthey's strategy to expand its clean air solutions arm, particularly for the data center sector.
• 05Concerns have been raised by campaigners in the UK and Ireland regarding the environmental impact of data centers, including energy consumption and land use.

The acquisition could lead to increased job opportunities in the clean air solutions sector and address the growing demand for emissions control technologies in data centers.