Magma announces joint venture with Morgan Advanced Materials
Magma Ceramics and Catalysts is today delighted to announce that it will shortly enter into a joint venture with Morgan Advanced Materials.
Morgan’s Fired Refractory Shapes business, located in Commercial Road, Bromborough, will merge with Magma Ceramics and Catalysts, forming a larger and more effective combined business with access to a wider technology base and significantly improved growth prospects.
The joint venture will be led by Mark Stuckey, Managing Director of Magma Ceramics and Catalysts (pictured left). Morgan Advanced Materials will take a 35% shareholding in the combined business and will have a seat on the board.
Magma Ceramics and Catalysts was formed in 2010 via a management buy-out of Dyson Industries fired ceramic shapes business. The company’s focus since then has been jointly on process improvement and substantive market focused growth of at least 50% per year. Magma has expanded its ceramic production process knowledge into the area of catalyst technology, establishing a catalyst development facility in Sheffield and manufacturing facilities in Brazil and Vietnam. The combination of a high degree of production process knowledge with this technology is supporting the growth ambitions of the business. Magma has a pipeline of new products and market opportunities supporting continued high growth in both the ceramics and catalyst areas of the business.
Magma’s Managing Director, Mark Stuckey, said: “I’d like to take this opportunity to welcome all the employees joining Magma at this exciting time and I look forward to their input into the continued growth of the business.”
It is anticipated that the transfer will take full effect within the next four to six weeks; further announcements will be made in due course.