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The press release announces W. R. Grace & Co.'s acquisition of the Fine Chemistry Services business from Albemarle Corporation for approximately $570 million. The deal, which includes $300 million in cash, aims to enhance Grace's pharma portfolio, particularly in high-value markets. The acquisition is projected to be accretive to revenue growth and EBITDA margins in 2021, contributing around $60 million in run-rate EBITDA with over 35% margins. The transaction is expected to close in Q2 2021, pending regulatory approvals.
W. R. Grace & Co. (NYSE:GRA) will present at the virtual UBS Chemicals Conference on February 23, 2021. CEO Hudson La Force and CFO Bill Dockman will lead the presentation starting at 1:00 p.m. ET, which will be accessible via webcast on Grace’s website. Attendees can also join small group discussions during the conference. A replay of the webcast will be available for 90 days post-event. Grace, a global specialty chemical company, operates in over 60 countries and is known for its innovative products in the Catalysts Technologies and Materials Technologies sectors.
W. R. Grace & Co. (NYSE:GRA) declared a quarterly cash dividend of $0.33 per common share, payable on March 23, 2021 to shareholders of record by the close of business on March 2, 2021. This dividend reflects a 10% increase in the regular annual cash dividend, raised from $1.20 to $1.32 per share. The board's decision takes into account the company's financial condition and performance, ensuring a commitment to rewarding shareholders while maintaining adequate liquidity.
W. R. Grace & Co. (NYSE: GRA) reported a fourth-quarter 2020 net sales of $470.2 million, down 6.8% year-over-year but up 12.1% sequentially. Key metrics showed a gross margin increase of 120 bps. The company faced a net loss of $43.5 million, with diluted EPS at $(0.66). Full-year 2020 results reflected an 11.7% decline in net sales to $1.73 billion and an adjusted EPS of $2.64, down 39.7% from 2019. For 2021, the company anticipates sales growth of 7% to 11%, adjusted EBIT of $400 to $430 million, and plans to increase dividends by 10% to $1.32 per share.
W. R. Grace & Co. (NYSE:GRA) is set to release its fourth quarter and full-year 2020 financial results on February 9, 2021. The announcement will occur at 6:00 a.m. ET, followed by a conference call at 9:00 a.m. ET with CEO Hudson La Force and CFO Bill Dockman discussing the results. Investors can access the live webcast on the company's investor website, and a replay will be available for a week post-call. Grace highlights its global presence and two main business segments: Catalysts Technologies and Materials Technologies, employing around 4,000 people worldwide.
W. R. Grace & Co. (NYSE: GRA) responded to 40 North Management's unsolicited acquisition proposal of $65 per share, expressing openness to discussions while emphasizing the need for a valuation reflecting the full value for shareholders. The company highlighted strong growth potential as markets recover from COVID-19, with expected fourth quarter sales and gross margins nearing pre-pandemic levels. Grace's leadership believes that the company is well-positioned for future success as a standalone entity or within a potential transaction.
W. R. Grace & Co. has appointed Cherée H. Johnson as Senior Vice President, General Counsel, and Secretary. Johnson, who previously held key legal roles at McCormick & Co. and Kraft Heinz, will manage global legal matters and corporate governance. She succeeds Mark A. Shelnitz, who retired. Grace believes Johnson's extensive legal expertise will enhance the leadership team. The company, operating globally with approximately 4,000 employees, is known for its innovative specialty chemical solutions across various industries.
W. R. Grace & Co. (NYSE: GRA) has received a revised acquisition proposal from 40 North Management LLC, offering $65 per share in cash. The Board of Directors will thoroughly review the proposal, guided by their fiduciary duties, with support from financial advisors Goldman Sachs & Co. LLC and Moelis & Company LLC. This review aligns with the company's ongoing evaluation of strategic alternatives aimed at maximizing shareholder value. Grace is a leading global specialty chemical company with a presence in over 60 countries.
40 North Management has increased its acquisition offer for W.R. Grace & Co (NYSE: GRA) to $65 per share in cash, representing a 62% premium over its closing price on October 13, 2020. This updated offer follows the dismissal of an earlier proposal, which offered $60 per share, a 50% premium. The letter highlights Grace's poor shareholder returns since its spin-off, with a total shareholder return of -37%, underperforming major indices. 40 North believes that its proposal offers immediate liquidity and better value for shareholders compared to Grace's current trajectory.
W. R. Grace & Co. (NYSE:GRA) announced participation in Citi’s Basic Materials Virtual Conference on Dec. 1, 2020. Key executives, including CEO Hudson La Force and CFO Bill Dockman, will engage in small group discussions and one-on-one meetings during the event. Investors can access the presentation on the company’s investor relations website.
Grace, a global specialty chemical leader, operates in over 60 countries with around 4,000 employees. Their business segments include Catalysts Technologies and Materials Technologies, providing innovative solutions for customers worldwide.
