British platinum refiner Johnson Matthey said it will close its Vertec unit in Birmingham, central England, putting 50 jobs at risk. Johnson Matthey, the world's largest supplier of catalytic converters, said it intended to accept an offer for the group's order book and then close the business in early 2011.

"Despite efforts to make the business more viable through efficiency improvements, cost cutting and ongoing support for research to develop new products, the business continues to struggle against stiff competition," Johnson Matthey said.

Vertec makes organic titanates used in inks, paints and polymers and is the smallest of four units within Johnson Matthey's Process technologies division.