JMPLY Johnson Matthey Public Ltd Company (PK)

By Rory Gallivan

LONDON--U.K. specialty chemicals company Johnson Matthey PLC (JMAT.LN) Thursday said it has sold its Alfa Aesar Research Chemicals business to U.S. technology company Thermo Fisher Scientific Inc (TMO) for 256 million pounds ($406.7 million).

"The divestment of the Research Chemicals business is a further step in delivering our long term strategy to focus the group on growth areas where we can apply our expertise in complex chemistry to create long term value for our shareholders," said Johnson Matthey Chief Executive Officer Robert MacLeod.

Shares at 1338 GMT, down 26 pence, or 0.8%, at 3,168 pence valuing the company at GBP6.49 billion.

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

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