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W. R. Grace & Co. (NYSE:GRA) has licensed its UNIPOL® PP Process Technology to GAIL (India) Limited for a new 60 KTA polypropylene plant at their complex in Pata, India. This partnership is expected to enhance GAIL's production capabilities by utilizing Grace's advanced technology, which is known for its efficiency and cost-effectiveness. The collaboration is aimed at producing a variety of high-quality resins to meet increasing market demand, particularly for non-phthalate products. Grace offers extensive support to its licensees, ensuring long-term success.
W. R. Grace Holdings and W. R. Grace & Co. (NYSE: GRA) announced successful completion of the Exchange Offers for existing notes, enabling an exchange for up to $1,050,000,000 in new secured notes. This follows receipt of requisite consents for proposed amendments to the existing note indentures. Notable tender results include approximately $298.5 million of 5.625% Notes and $719.2 million of 4.875% Notes. The Exchange Offers are conditioned on the merger between Grace and Holdings, set to complete by August 31, 2021, unless extended.
W. R. Grace Holdings LLC plans to issue $1,155 million in 5.625% Senior Notes due 2029, aiming to fund part of its anticipated merger with W. R. Grace & Co. (NYSE: GRA), repay certain debts, and cover related expenses. The offering is set to close on August 25, 2021, pending customary conditions. This private transaction targets qualified institutional buyers under SEC regulations. The press release emphasizes that completion of the offering and merger is not guaranteed, and potential risks could impact the process.
Advanced Refining Technologies (ART), a joint venture of W. R. Grace and Chevron, has secured a significant five-year catalyst management agreement worth USD 240 million with Bahrain Petroleum Company (Bapco). This exclusive deal is the largest of its kind in Bapco's history and will support the company's modernization program aimed at increasing refinery capacity from 267,000 to 380,000 barrels per day. ART is set to provide its Resid Hydrocracking catalyst technology, which is optimized for various feedstocks and enhances operational efficiency.
W. R. Grace & Co. (NYSE: GRA) has initiated Consent Solicitations and Exchange Offers for its outstanding notes, as part of a merger with W. R. Grace Holdings LLC. The offers include an exchange of existing notes for up to $1,050,000,000 in new secured notes and cash. The process is subject to conditions outlined in an offering memorandum dated August 3, 2021. Eligible holders can receive a total exchange consideration based on early tender premiums by participating before the early tender date of August 16, 2021.
W. R. Grace & Co. (NYSE: GRA) reported strong financial results for Q2 2021, with net sales of $512.9 million, marking a 22.5% increase year-over-year. This growth was driven by all segments, particularly Materials Technologies and Refining Technologies, which rose 27.3% and 33.4%, respectively. Diluted EPS rose to $0.68 from a loss of $(0.11) a year prior. However, the company faced $10.3 million in weather-related costs due to Winter Storm Uri. Year-to-date, net cash from operations fell 37.4% to $115.5 million.
W. R. Grace & Co. (NYSE: GRA) announced a price increase of 3 to 9 percent for its Fluid Catalytic Cracking (FCC) catalysts, effective July 1, 2021. This rise is attributed to a recovery in the global refining industry and increased interest in premium catalyst technologies. The price hike aims to offset rising costs of raw materials and energy, while supporting ongoing investments in technology and services. Grace emphasizes its FCC technologies' ability to enhance profitability for refiners, often providing returns exceeding $1 per barrel.
W. R. Grace & Co (NYSE:GRA) has unveiled a new analytical lab at its East Chicago, IN facility, enhancing its manufacturing capabilities for LUDOX® colloidal silica. This investment signifies Grace's commitment to meeting the growing global demand for its flagship product, which has applications across various industries, including catalysts and coatings. The lab is expected to drive innovation and improve responsiveness to customer needs, solidifying Grace's position in the market.
On June 1, 2021, W. R. Grace & Co. (NYSE: GRA) finalized its acquisition of Fine Chemistry Services from Albemarle Corporation for approximately $570 million, which includes $300 million in cash and $270 million in preferred equity.
This strategic acquisition aims to enhance Grace's Materials Technologies business, particularly in high-growth pharmaceutical markets. The FCS acquisition is expected to significantly bolster Grace's ability to provide innovative solutions and strengthen its pharma portfolio.
W. R. Grace & Co. (NYSE:GRA) has successfully completed the expansion of its manufacturing plant in Kuantan, Malaysia, marking the fourth extension since 1996. This growth is a response to the rising global demand for Grace's specialized silica solutions, which serve various industries, including coatings and biodiesel. The expansion reflects Grace’s commitment to market strength and customer needs, supporting ongoing growth in both EMEA and Asia Pacific.
