Sector News

W.R. Grace to acquire assets from Evonik

August 29, 2017
Chemical Value Chain

W. R. Grace & Co. has reached an agreement to acquire certain assets from a German specialty chemicals company.

Columbia-based W.R. Grace will acquire the trademarks and licenses to produce and sell chemical compounds used in toothpaste from Evonik Industries AG. The deal is expected to close Sept. 5, and the terms were not disclosed.

The transaction also includes New Jersey-based J.M. Huber Corp.’s defoamers and anti-caking agents used in the paper industry. W.R. Grace has to wait for a pending deal between Evonik and J.M. Huber Corp. to close on Sept. 1.

W.R. Grace said it does not expect the deal to change its 2017 financial outlook. The company projects adjusted earnings per share for the year to be in the range of $3.30 to $3.45, up 6 percent to 11 percent from 2016. Sales are expected to grow in the range of 3 percent to 4 percent.

W.R. Grace had sales of $1.6 billion in 2016. Through the first two quarters of 2017, the company reported $429.5 million in sales.

Sandra Wisniewski, president of Grace Materials Technologies, said in a statement the acquisition will enable the company to “deliver more value” to customers at some of the major toothpaste brands and expands its product portfolio.

“These acquisitions reflect our commitment to our industrial and toothpaste customers and our strategy to grow our business through selective acquisitions,” Wisniewski said.

By Holden Wilen

Source: Baltimore Business Journal

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