Grace Acquires Albemarle Polyolefin Catalysts Business
W.R. Grace & Co. has completed the $416 million acquisition of the Polyolefin Catalysts business of Albemarle Corporation. The acquired business primarily develops and manufactures proprietary and custom-manufactured single-site catalysts as well as metallocenes and activators used in the production of plastic resins. The transaction also includes a series of Ziegler-Natta catalysts for polyethylene production.
According to the company, the acquisition includes production plants in Baton Rouge, La. and Yeosu, South Korea; R&D and pilot plant capabilities; and an extensive portfolio of intellectual property. “This acquisition significantly enhances our position in the fastest growing polyethylene segment and fills out our polyolefin catalysts portfolio,” said Grace chairman and chief executive officer Fred Festa. “With the rising demand for sophisticated resins, Grace is committed to growing this business by investing in single-site catalysts technologies to fully support our global polyethylene manufacturing customers.”