A GLOBAL chemicals company which owns businesses in the North-East has agreed a new metal supply deal.

Johnson Matthey, which runs technology firm, Tracerco, in Billingham, near Stockton, will continue supplying Anglo American Platinum Limited and has also announced a separate contract to provide Anglo Platinum with market research services.

However, the company, which is the world's largest manufacturer of platinum group metal products, said it will stop market development between the two parties.

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The new metal supply agreement starts on December 31.

Neil Carson, Johnson Matthey chief executive, said: “We are pleased we are able to extend our long relationship with Anglo Platinum and secure an extension to our metal supply agreement.

“This will enable us to continue to service our customers with confidence.”

Last month, the company, which also owns environmental technology companies Davy Process Technology, Stockton, revealed sales had fallen by two per cent to £635m in the third quarter of last year, with profits at £84.3m and overall net debt at £739m.