W. R. Grace & Co. signs an agreement to acquire the polyolefin catalysts business of Albemarle Corporation for $416 million. The transaction is expected to close in the first quarter of 2018, subject to regulatory approvals and other customary closing conditions. The acquisition includes proprietary and custom-manufactured single-site catalysts, metallocenes and activators as well as a comprehensive series of highly optimized Ziegler-Natta catalysts for polyethylene production.
The acquisition reportedly strengthens Grace’s catalysts technology portfolio, commercial relationships and manufacturing network. Approximately 175 employees will join Grace’s global team. The two manufacturing operations in Baton Rouge, Louisiana and Yeosu, South Korea add important flexibility to the company’s global catalysts manufacturing network, enhancing Grace’s ability to meet customer needs across multiple regions, according to the company.
Grace expects to finance the transaction with a combination of debt and cash.
For more information, visit: www.grace.com