---
title: "Standard Industries Intensifies Push for Johnson Matthey Restructure as Share Price Plummets"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2025-01-08T08:24:06+00:00"
modified: "2025-01-08T08:24:06+00:00"
date: 2025-01-08
canonical: "https://stockmark.it/standard-industries-intensifies-push-for-johnson-matthey-restructure-as-share-price-plummets/"
category: "UK Manufacturing"
categories: ["UK Manufacturing"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/1732987551719_a4CqrPjL-1.jpg?fit=1024%2C576&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Standard Industries Intensifies Push for Johnson Matthey Restructure as Share Price Plummets

**Published:** January 8, 2025
**Author:** Stockmark.IT Website
**Categories:** UK Manufacturing
**Featured image:** ![Two scientists in lab coats conduct research in a laboratory setting. from Stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/1732987551719_a4CqrPjL-1.jpg?fit=1024%2C576&quality=89&ssl=1)

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The UK chemical technologies group Johnson Matthey faces mounting pressure from its largest shareholder, Standard Industries, to pursue a comprehensive break-up of the organisation. The American conglomerate has issued a second confrontational letter to Johnson Matthey’s chairman Patrick Thomas, signalling its intention to rally support from fellow shareholders.

The intensified campaign follows a devastating three-year period for Johnson Matthey, during which its share price has plunged 60 per cent, erasing nearly £3.5 billion from its market capitalisation. Standard Industries’ joint chief executives, David Millstone and David Winter, dismissed Thomas’s recent response to their initial demands as “wholly insufficient” in addressing the company’s significant destruction of shareholder value.

Standard Industries, holding an 11 per cent stake worth approximately £250 million, has expressed deep concerns over Johnson Matthey’s strategic direction. The investor’s initial £180 million investment in spring 2022 came in the wake of the company’s controversial exit from electric battery technology, a move that followed substantial investment and more than a decade of development.

The American investor’s criticism extends to Johnson Matthey’s recent pivot towards hydrogen energy, transport technologies, and sustainable aviation fuel, which they argue shows “no apparent path for return on capital”. This strategic shift represents a significant departure from the company’s traditional strength in developing platinum group metals chemistry for catalytic converters.

Trading near a 15-year low at £13.50, Johnson Matthey’s share price continues to reflect market scepticism. Standard Industries has now engaged legal and proxy advisers, demonstrating their commitment to forcing change at the former FTSE 100 company. The situation represents a critical juncture for Johnson Matthey, as it grapples with mounting pressure to reassess its strategic direction and corporate structure.

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