COLUMBIA, Md., April 22, 2016 (GLOBE NEWSWIRE) -- W. R. Grace & Co. (NYSE:GRA) announced today that it has signed an agreement to acquire the assets of BASF’s Polyolefin Catalysts business. The transaction is expected to close in the third quarter of this year pending regulatory approvals, required consultations with employee representatives, and other customary closing conditions. Terms were not disclosed.
Grace is a leading supplier of polyolefin catalysts technology, as well as polypropylene (PP) process technology. Grace has the broadest portfolio of polyolefin catalyst technologies of any independent catalysts producer.
BASF’s Polyolefin Catalysts business includes its LYNX® high-activity PE catalyst technologies that are utilized commercially in slurry processes for the production of high-density PE resins such as bimodal film and pipe. LYNX® PP catalyst technologies are used commercially in all major PP process technologies including slurry, bulk loop, stirred gas, fluid gas, and stirred bulk.
The acquisition includes technologies, patents, trademarks, and production plants in Pasadena, Texas and Tarragona, Spain, as well as approximately 170 employees globally.
In addition to its proprietary PP and PE catalysts products and technology, the BASF assets provide Grace with significant additional flexibility and capacity for its global polyolefin manufacturing network.
“This is an important addition to Grace’s strong portfolio of polyolefin catalysts technologies,” said Grace Chairman and Chief Executive Officer Fred Festa. “Grace is uniquely positioned to serve the growing needs of the polyolefins market and benefit from operational synergies. This opportunity is perfectly aligned with our focus on core catalysts and materials technologies.”
Grace will address the acquisition during the company’s First Quarter 2016 earnings conference call scheduled for Wednesday, April 27, at 9:00 a.m. ET. Access to the live webcast and the accompanying slides will be available through the Investors section of the company’s website, www.grace.com.
About Grace
Built on talent, technology, and trust, Grace is a leading global supplier of catalysts and engineered materials. The company’s two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customer partners around the world. Grace employs approximately 3,700 people in over 30 countries. More information about Grace is available at grace.com.
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