Morgan Advanced Materials
Building distinctive competencies
We have a strategic framework that connects our purpose with our strategy, our distinctive competencies and our Morgan Code.
Our strategy is to build distinctive capabilities in three areas:
- Materials science
We are an acknowledged leader in materials science for our chosen technology families. We have four global materials Centres of Excellence (CoE) which consolidate the Group’s R&D efforts. - Application engineering
We have built an understanding of the application of our materials science in our customers’ products and processes, in order to provide maximum benefit through advanced application engineering. - Customer focus
Our success comes from aligning everything we do to focus on the customer. We build deep and trusted relationships with our customers, working to understand their business and their markets, and their technical challenges and product roadmaps. We align our materials development to solve our customers’ problems.
We apply these skills to solve difficult problems for our customers while operating safely, ethically and sustainably. We will operate businesses that are, or can be:
- At scale - among the leaders of their markets and big enough to be resilient and able to invest to sustain their position.
- Scalable - running on a global basis, getting synergies in technology, operations and sales.
We have three execution priorities which we are pursuing over the medium term to enhance our capabilities and improve our strategy execution.
Big positive difference
We will build a sustainable business, getting to net zero by 2050, and create a fair and inclusive working environment that is reflective of the communities we operate in. A business where everyone is welcome and can do their best.
Delight the customer
We will make our businesses more customer centric. We are getting feedback from our customers and making improvements to customer service, responsiveness and delivery. We are simplifying and improving our digital communication.
Innovate to grow
We will win in our core markets by providing products and solutions that make our customers more sustainable. We will increase our exposure to our faster growing markets that reflect global trends: semiconductors, healthcare, clean energy and clean transportation.
We want to accelerate our growth, by winning in our core markets and increasing our exposure to our faster growing market segments: clean energy, clean transportation, semiconductors and healthcare.
We have been focusing our product development and business development efforts in these markets over the last several years to develop new and differentiated products that solve complex problems for our customers.
Clean energy and clean transportation
Growth in energy storage, brushes and slip rings for onshore wind applications and ceramic and carbon products used in solar panel manufacture. Growth in our rail collector business for metro and main rail applications, and in water and vacuum pump components for electric vehicle applications.
Semiconductors
Growth from carbon and ceramic consumable supply into key semiconductor process steps including crystal growth, deposition, lithography and etch.
Healthcare
Growth from medical imaging and supply of low temperature insulation for medicine and vaccine transport and storage.
During 2023, organic constant-currency revenue growth in these segments was 10.4%, which represented 21.3% of our revenue overall.