COLUMBIA, Md., July 01, 2016 (GLOBE NEWSWIRE) -- W. R. Grace & Co. (NYSE:GRA) announced that on June 30, 2016, it completed the acquisition of the assets of the BASF Polyolefin Catalysts business.
The acquisition includes LYNX® high-activity polyethylene (PE) catalyst technologies that are used commercially in slurry processes for the production of high-density PE resins such as bimodal film and pipe. LYNX® polypropylene (PP) catalyst technologies are used commercially in all major PP process technologies including slurry, bulk loop, stirred gas, fluid gas, and stirred bulk. Grace acquired technologies, patents, trademarks, and production plants in Pasadena, Texas and Tarragona, Spain. Approximately 170 former BASF employees have joined Grace.
In addition to proprietary PE and PP catalysts products and technology, the BASF assets provide Grace with significant additional flexibility and capacity for its global polyolefin catalysts manufacturing network.
“We are excited to begin working with our new customers and to add the high-performing LYNX products to our portfolio of polyolefin catalysts,” said Grace Chairman and Chief Executive Officer Fred Festa. “We are equally excited to welcome a group of talented employees to Grace. They are an important part of serving our customers and achieving our business strategy in polyolefin catalysts.”
The purchase is aligned with Grace’s focus on its core catalysts and materials technologies. Grace is a global leader in polyolefin catalysts technology, as well as PP process technology. The company now has the broadest portfolio of polyolefin catalyst technologies of any independent catalysts producer.
Grace will address the financial impact of the acquisition during the company’s second quarter 2016 earnings conference call. The date and time of the call will be announced soon. 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.
