| New Divisional Structure
From 1st April 2007 we have reorganised our divisional structure, creating a new Environmental Technologies Division which comprises ECT, the process technologies businesses within Process Catalysts and Technologies (PCT) and Fuel Cells. The remaining businesses within PCT, which serve the speciality chemicals and pharmaceutical markets, have been merged with Pharmaceutical Materials to form a new Fine Chemicals & Catalysts Division. Precious Metal Products Division is unchanged.
 This new structure is designed to give greater focus on technologies concerned with protecting the environment such as pollution control, cleaner fuel, more efficient use of hydrocarbons and the hydrogen economy. Our new Environmental Technologies Division, which combines our core skills in catalysts and process technology, is well positioned to serve these emerging markets.
Johnson Matthey’s Pharmaceutical Materials business is focused on the manufacture of fine chemicals, particularly active pharmaceutical ingredients (APIs), sold to pharmaceutical companies which fits well with the group’s other fine chemicals and catalysts businesses which sell into the same or similar markets. Our new Fine Chemicals & Catalysts Division, which combines the group’s fine chemicals and related catalysts businesses, will enable us to take advantage of the marketing and technology synergies that exist between these businesses.
The segmental results for 2006/07, restated for the new divisions, are shown in the Financial Review section.
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