On May 22, 2025, Johnson Matthey Plc announced the sale of its Catalyst Technologies (CT) business to Honeywell International Inc. for an enterprise value of £1.8 billion in an all-cash transaction. The CT division specializes in catalyst manufacturing and process technology licensing, serving industries such as refining, petrochemicals, and renewable fuels. This strategic move allows Johnson Matthey to streamline its operations and focus on its core businesses in Clean Air and Platinum Group Metals Services. The transaction is expected to deliver net sale proceeds of approximately £1.6 billion, with £1.4 billion (about 88% of the proceeds) intended to be returned to shareholders upon completion, anticipated in the first half of 2026, subject to regulatory approvals.