Johnson Matthey has purchased Davy Process Technology (DPT) for £40 million in cash.
DPT develops chemical process technologies and licenses them to customers in the oil, gas, petrochemical, polymer and pharmaceutical industries. Revenue is generated through the licensing of its proprietary technologies and from the sale of associated basic engineering packages, catalysts, specialist equipment and other services.
Johnson Matthey and DPT have a long history of technical collaboration and, together with Aker Kvaerner, form the One Synergy alliance which provides turnkey solutions for methanol production and other syngas based processes including the emerging gas to liquids (GTL) market.
DPT employs around 175 people and is headquartered in London. It has a purpose-built R&D centre in Stockton-on-Tees. The company has a long history, having been established in the 1830s as a mechanical engineering business and was part of Trafalgar House before being purchased by Kvaerner in 1996.
More recently, the business changed hands in 2001 when Yukos bought DPT from Aker Kvaerner. Johnson Matthey has acquired DPT from Yukos International.
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