Country of incorporation Europe   S.A. Johnson Matthey N.V. Belgium Cascade Biochem Limited Eire +Avocado Research Chemicals Limited England +Johnson Matthey Fuel Cells Limited (82.5%) England Johnson Matthey SAS France Johnson Matthey GmbH Germany Johnson Matthey Italia S.p.A. Italy Johnson Matthey BV Netherlands Johnson Matthey Ceramica (Portugal) Lda Portugal Johnson Matthey Ceramics S.A. Spain Almiberia S.A. Spain Johnson Matthey AB Sweden Johnson Matthey & Brandenberger AG Switzerland     North America   The Argent Insurance Co. Limited Bermuda Johnson Matthey Limited Canada Johnson Matthey de Mexico, S.A. de C.V. Mexico Johnson Matthey Inc. USA Johnson Matthey Catalog Company Inc. USA Johnson Matthey Fuel Cells, Inc. (82.5%) USA Johnson Matthey Pharmaceutical Materials, Inc. USA     Country of incorporation Asia   Johnson Matthey Ceramics (Jiangsu) Co. Ltd. China Johnson Matthey (Shanghai) Chemicals Limited China Johnson Matthey Hong Kong Limited Hong Kong Johnson Matthey India Private Limited India Johnson Matthey Chemicals India Private Limited India Johnson Matthey Japan, Inc. USA +Johnson Matthey Sdn. Bhd. (92%) Malaysia Johnson Matthey Ceramics (Malaysia) Sdn. Bhd. Malaysia     Africa   Johnson Matthey (Pty) Limited South Africa     Australasia   *AGR Matthey (20%) Australia     South America   +Johnson Matthey Argentina S.A. Argentina Johnson Matthey Ceramica Ltda Brazil
	Except where otherwise stated, all companies are wholly owned. * Associate (see note 14c). +Investments held directly by parent company. All the subsidiary undertakings and associates are involved in the principal activities of the group.
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