Johnson Matthey is mulling over the options for its electronic materials business after receiving several bid approaches.
The group said last November that it was making the business a stand-alone legal entity as a first move towards spinning it off.
But a group spokesman said last week that it had yet to decide whether the business, which makes parts for printed circuit boards, would be sold or floated on the stock market in its own right. ‘All options are being considered, from a trade sale to a flotation on Nasdaq,’ he said.
The electronic materials division made a £40.1m profit last year on turnover of £438.1m, but has suffered from the global fall in demand for semiconductors.
Potential bidders are thought to include US industrial group AlliedSignal as well as industrial materials company Cookson.