ONE of the Ribble Valley's largest employers has been sold as part of a £260million deal.

Chemicals giant ICI has agreed to sell its catalyst business Synetix, with more than 100 employees at its factory on the Pimlico Industrial Estate in Clitheroe, to Johnson Matthey.

A spokesman for the new owners today assured the Clitheroe workers that their jobs were safe and promised to keep them fully briefed on the takeover.

"We have no intention of making any reduction in the head count at Clitheroe," said Ian Godwin.

"It is very much a growth business and there are a great many synergies."

ICI decided to sell the Synetix business in January to cut debts. Synetix is a global chemicals catalyst business which serves a range of market segments including ammonia, methanol, fine chemicals, edible oils, oleochemicals, oil and gas and polymerisation.

Johnson Matthey is a speciality chemicals company, organised into four global divisions: Catalysts & Chemicals, Precious Metals, Colours & Coatings and Pharmaceutical Materials.

Based in London, Johnson Matthey employs 7,000 people at operations in 34 countries.

The acquisition represents further progress in its strategy of growing its Catalysts & Chemicals division both organically and by acquisition.

The Synetix business has catalyst production facilities in several countries. Its HQ is at Billingham in the UK.

It has 800 employees, who will all transfer to Johnson Matthey, and 5,000 customers in 85 countries.

For the year ended December 31, 2001, Synetix had sales of £146 million and a trading profit of £24 million.