W. R. Grace & Co. (NYSE: GRA) announced that it has signed a definitive agreement to acquire the assets of the UNIPOL™ Polypropylene Licensing and Catalysts business of The Dow Chemical Company (NYSE: DOW) for a cash purchase price of $500 million. The transaction is expected to close by year end, pending regulatory approvals.
Dow’s UNIPOL™ licensing and catalysts systems business offers industry-leading UNIPOL™ Polypropylene Process Technology, which includes the advanced process control UNIPOL UNIPPAC™ Process Control software, SHAC™ Catalysts Systems, and 6th Generation non-phthalate CONSISTA™ Catalysts Systems.
Grace is a leading supplier of polyolefin catalyst technology and has the broadest portfolio of polyolefin catalyst technologies of any independent polyethylene/polypropylene catalyst producer.
“The addition of Dow’s world-class polypropylene products and process technology is a significant enhancement of Grace’s market-leading catalysts franchise,” said Grace Chairman and Chief Executive Officer Fred Festa. “The agreement reflects Grace’s continuing commitment to invest in our catalyst businesses, particularly in technology. This acquisition strengthens our ability to provide polypropylene catalyst solutions to our customers around the world.”
Grace was advised on the transaction by Blackstone Advisory Partners L.P.
Grace will address the acquisition during the company’s Third Quarter 2013 earnings conference call scheduled for Wednesday, October 23, at 11:00 a.m. ET. Access to the live webcast and the accompanying slides will be available through the Investor Information section of the company’s website, www.grace.com.
Grace is a leading global supplier of catalysts; engineered and packaging materials; and, specialty construction chemicals and building materials. The company’s three industry-leading business segments—Grace Catalysts Technologies, Grace Materials Technologies and Grace Construction Products—provide innovative products, technologies and services that enhance the quality of life. Grace employs approximately 6,500 people in over 40 countries and had 2012 net sales of $3.2 billion. More information about Grace is available at www.grace.com.
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