UPDATE 2-Johnson Matthey battles lower profit at its biggest unit [Reuters]
JOHNSON MATTHEY S/ADR (JMPLY)
NASDAQ:AMEX Investor Relations:
matthey.com/investor
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Source: Reuters
UPDATE 2-Johnson Matthey battles lower profit at its biggest unit - Reuters 2 Min Read * Shares slide 3% to bottom of FTSE 100 * Clean Air profit outlook dim as costs rise * Maintains full-year forecast (Adds background on Clean Air unit) By Yadarisa Shabong July 17 (Reuters) - Johnson Matthey on Wednesday lowered the profit outlook for its largest unit that makes pollution filters for cars and trucks and announced the departure of the unit’s head, sending its shares down more than 3%. Shares of the FTSE 100 company was the biggest loser on London’s blue-chip index. The moves follow scrutiny of Johnson Matthey’s catalytic filters for trucks, which have been linked to emission issues at truckmakers Volvo and Cummins. A document from AB Volvo seen by Reuters in January showed the chemicals and metals group supplied catalytic converters to the Swedish truckmaker, an issue that could result in fines for both companies. Johnson Matthey had said in its annual report in May that it had been
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