Grace Agrees to Purchase Dow's UNIPOL™ Polypropylene Process Technology Licensing and Catalysts Busi
Grace Agrees to Purchase Dow's UNIPOL™ Polypropylene Process Technology Licensing and Catalysts Business
COLUMBIA, Md.--(BUSINESS WIRE)-- W. R. Grace & Co. (NYS: 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 (NYS: 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.
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: United States North America Maryland
The article Grace Agrees to Purchase Dow's UNIPOL™ Polypropylene Process Technology Licensing and Catalysts Business 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.