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Johnson Matthey hopes investors keep faith as battery failure formalised
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theguardian.comThe board of Johnson Matthey still couldn’t summon a mea culpa as the financial pain of closing the electric battery unit was formalised as a thumping £314m impairment charge. Six months ago, remember, its chief executive, Robert MacLeod, was singing the praises of the adventure, including announcing a second factory in Finland. Acceptance that Johnson Matthey had been outmuscled by bigger competitors came very late in the day.
Still, there was news of £200m share buyback, which was presumably an
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