Written on 17.04.2013 - Industry
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Perstorp sells Formox to Johnson Matthey

Perstorp Holding AB has sold its formaldehyde technology and catalyst business Formox AB to Johnson Matthey Plc for SEK 1.05 billion (~ EUR 126 million).

Formox is a global provider of catalysts, plant designs, and licenses for the manufacture of formaldehyde. It has developed a range of metal oxide-based catalysts for the production of formaldehyde from methanol and is a provider of process technology for metal oxide-based formaldehyde production plants with an installed base of around 120 plants worldwide. The company also provides a full recycling and refining service for spent metal oxide catalysts and manufactures platinum-based VOC abatement catalysts for formaldehyde plants. In 2012 Formox achieved sales of SEK 492 million (~ EUR 59 million). The company employs approximately 100 people and has manufacturing, R&D, engineering, and sales facilities in Sweden. It also has sales offices in the USA, Singapore and China. Formox will be integrated into Johnson Matthey’s Process Technologies business.