Grace Acquires Waterproofing Technology and Capacity in Australia
COLUMBIA, Md.--(BUSINESS WIRE)-- W. R. Grace & Co. (NYS: GRA) announced the acquisition of Chemind Construction Products, a privately-held specialty manufacturer and distributor of waterproofing coatings technologies and materials for the design and construction industry. Chemind (pronounced kĕm'-eened) is headquartered and conducts R&D and manufacturing operations in Brisbane, Australia. Terms were not disclosed.
The acquisition will become part of Grace Construction Products (GCP), a leading global provider of construction chemicals and building materials that enhance the durability, strength and appearance of structures all over the world. In 2012, GCP posted sales of $1.0 billion.
Chemind adds new waterproofing technology to Grace's global Construction Products portfolio and establishes the company's first waterproofing R&D and manufacturing facility in Australia. The new site will produce waterproofing materials for repair, maintenance and improvement markets as well as for new construction.
Chemind formulates and manufactures specialty, high performance waterproof coatings that protect and preserve as well as improve the integrity, performance, and life of commercial, residential, and civil structures. Chemind also distributes a broad range of waterproofing coatings and materials, including Grace's own waterproofing solutions, throughout Australia.
"Chemind's products are highly complementary to Grace's waterproofing product and technology portfolio," said Adam Grose, Vice President and General Manager, Asia, Grace Construction Products. "This acquisition is consistent with our strategy to expand our waterproofing business globally."
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 6,300 people in over 40 countries and had 2012 net sales of $3.16 billion. More information about Grace is available at www.grace.com.
About Grace Construction Products
Grace Construction Products is a world-leading provider of construction chemicals and building materials that are used to enhance the durability, strength, and appearance of structures all over the world. Products include concrete admixtures, fibers, surface treatments and liquid pigments, additives for cement processing and fire protection, waterproofing and masonry products. More information is available online at http://www.grace.com.
Chemind commenced business as Chemical Industries,in 1976 to service the need for specialized and sophisticated waterproofing and coatings systems being demanded by contractors and consultants for the construction industry. Our Chemind Construction Products division continues to meet the needs of the construction industry throughout Australia and the Asia-Pacific region.
This announcement contains forward-looking statements, that is, information related to future, not past, events.Such statements generally include the words "believes," "plans," "intends," "targets," "will," "expects," "suggests," "anticipates," "outlook," "continues" or similar expressions.Forward-looking statements include, without limitation, all statements regarding Grace's Chapter 11 case; expected financial positions; results of operations; cash flows; financing plans; business strategy; budgets; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; and markets for securities.For these statements, Grace claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.Like other businesses, Grace is subject to risks and uncertainties that could cause its actual results to differ materially from its projections or that could cause other forward-looking statements to prove incorrect.Factors that could cause actual results to materially differ from those contained in the forward-looking statements include, without limitation: developments affecting Grace's bankruptcy, propose plan of reorganization and settlements with certain creditors, the cost and availability of raw materials (including rare earth) and energy, developments affecting Grace's underfunded and unfunded pension obligations, risks related to foreign operations, especially in emerging region, acquisitions and divestitures of assets and gains and losses from dispositions or impairments, the effectiveness of its research and development and growth investments, its legal and environmental proceedings, costs of compliance with environmental regulation and those factors set forth in Grace's most recent Annual Report on Form 10-K, quarterly report on Form 10-Q and current reports on Form 8-K, which have been filed with the Securities and Exchange Commission and are readily available on the Internet atwww.sec.gov.Reported results should not be considered as an indication of future performance.Readers are cautioned not to place undue reliance on Grace's projections and forward-looking statements, which speak only as the date thereof.Grace undertakes no obligation to publicly release any revision to the projections and forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.
KEYWORDS: Australia United States North America Australia/Oceania Maryland
The article Grace Acquires Waterproofing Technology and Capacity in Australia originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.