Grace Announces Purchase of Assets of Single-Site Catalysts, LLC
Tuesday November 8, 5:00 pm ET
COLUMBIA, Md.--(BUSINESS WIRE)--Nov. 8, 2005--W. R. Grace & Co. announced today that it has acquired the assets of Single-Site Catalysts, LLC (SSCL), a supplier of organometallic catalysts, serving a variety of industries, including polyolefins and elastomers, headquartered in Chester, PA. The purchase includes customer agreements and intellectual property for the manufacture of metallocenes and boron co-catalysts. Financial terms of the deal were not disclosed.
The terms of the acquisition will ensure that no product re-qualifications will be required since Grace will maintain a manufacturing relationship with SSCL affiliate, Norquay Technology, Inc. also of Chester, PA. This relationship will also combine the substantial organometallic expertise of SSCL, Norquay and Grace to provide catalyst development and commercialization services to current and new customers. The business will be integrated into Grace's Davison Chemicals business segment.
According to Gregory E. Poling, President, Grace Davison, "This acquisition supports our strategy to expand and strengthen our competencies in our Specialty Catalysts business unit. Leveraging Grace Davison's catalyst support technology and manufacturing capabilities with Single-Site's advanced synthesis technology will result in high value products for the polyolefin industry."
"With this acquisition, Grace becomes the only provider of the full range of single-site catalyst solutions with access to supports, metallocene components and immobilization services," stated Anthony J. Dondero, Vice President and General Manager, Grace Davison Specialty Catalysts. "As the only integrated catalyst system provider, Grace Davison will enable customers to accelerate their product development cycles."
Grace is a leading global supplier of catalysts and other products and services to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide-range of industrial applications; specialty chemicals, additives and materials for commercial and residential construction; and sealants and coatings for food packaging. With annual sales of more than $2.3 billion, Grace has over 6,500 employees and operations in nearly 40 countries. For more information, visit Grace's web site at www.grace.com.
This announcement contains forward-looking statements that involve risks and uncertainties, as well as statements that are preceded by, followed by or include the words "believes," "plans," "intends," "targets," "will," "expects," "anticipates," or similar expressions. For such statements, Grace claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include those factors set forth in Grace's most recent Annual Report on Form 10-K, quarterly reports on Form 10-Q and other reports, which have been filed with the SEC. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Grace undertakes no obligation to publicly release any revisions to the forward-looking statements contained in this release, or to update them to reflect events or circumstances occurring after the date of this release.
W. R. Grace & Co.
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