W. R. Grace & Co. today signed 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 Polyolefin Catalysts business is a global leader in proprietary and custom-manufactured single-site catalysts as well as metallocenes and activators. The acquisition also includes a comprehensive series of highly optimized Ziegler-Natta catalysts for polyethylene production.
The acquisition significantly 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.
“This transaction aligns perfectly with our strategy to expand our leadership position in polyolefin catalysts,” said Grace Chairman and Chief Executive Officer Fred Festa. “I am excited about the opportunities created by adding the talent, advanced technology, and manufacturing capabilities of the business. Both the catalysts and activators product lines are tied to high-growth applications and the manufacturing assets bring important scale and capital synergies.”
Grace expects to finance the transaction with a combination of debt and cash.
A leader in polyolefin catalysts and licensing, Grace has the world’s broadest portfolio of polypropylene and polyethylene catalyst technologies used to produce thermoplastic resins for a variety of applications. A leading innovator and strategic partner to its customers, Grace supplies catalyst solutions for all polyolefin processes, as well as polypropylene process technology and process controls.
Source: Grace
PepsiCo Europe and crop nutrition company Yara have announced a long-term partnership aimed at providing European farmers with low-carbon crop nutrition solutions to help decarbonise the food value chain. Under the agreement, Yara will supply PepsiCo with up to 165,000 tons of fertiliser per year by 2030, covering around 25% of the food and beverage giant’s crop fertiliser needs across Europe.
BASF has signed an agreement to sell its flocculants business for mining applications to Solenis, a specialty chemicals manufacturer. The divestment of the flocculants business to Solenis is part of BASF’s ongoing portfolio optimisation with the aim of focusing on strategic core areas.
ADAMA Ltd. a leading crop protection company, announced that its board of directors has appointed Gaël Hili as its President and Chief Executive Officer, effective October 1, 2024. Hili will join the Syngenta Group Leadership Team and will be based in Tel Aviv.
