Autocatalyst manufacturer Johnson Matthey sold Russian assets
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Automotive catalyst manufacturer Johnson Matthey has sold its Russian assets to local management. This is evidenced by the data of the Unified State Register of Legal Entities, drew the attention of Kommersant.
At the end of June of this year, the Johnson Matthey Johnson Matthey Krasnoyarsk plant was transferred to Catalysts and Technologies LLC. In July, the company was renamed to Ecotechsis LLC. According to the publication, production at the plant is going to be resumed.
Catalysts and Technologies was established in November 2022. It is registered in Krasnoyarsk. Its founders are Leonid Rakitin, Andrey Kossov and Vadim Nevenchenko, follows from SPARK data. Rakitin also holds the position of CEO. Each of them owns 33.3% of the company.
Previously, Rakitin was the general director of Johnson Matthey Krasnoyarsk, Kossov served as the commercial director of Johnson Matthey in the Russian Federation, and Nevenchenko was the financial controller, Kommersant notes. Thus, Johnson Matthey’s business in Russia passed to Russian top managers.
Johnson Matthey’s latest published report for the fiscal year (ended March 31) states that the company has closed its Moscow office, ceased commercial activities in Russia and suspended production at its Krasnoyarsk plant. At the same time, the report does not contain data on the sale of Russian assets.
In 2022, the revenue of Johnson Matthey Krasnoyarsk amounted to 1.4 billion rubles. (-82.9% yoy). The company also showed 374.2 million rubles. net loss against profit of 926.6 million rubles. a year earlier. At the same time, the company pointed to a significant decline in consumer demand in Russia.
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