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Grace Divests into W. R. Grace and GCP Applied Technologies

Published on 2016-02-11. Author : SpecialChem

COLUMBIA -- W. R. Grace & Co. completes the previously announced separation of Grace into two independent, industry-leading companies: W. R. Grace & Co. and GCP Applied Technologies Inc.

Grace Divests into W. R. Grace and GCP Applied Technologies
Fig. 1: Grace Divests into W. R. Grace and GCP Applied Technologies

GCP will begin “regular way” trading on the New York Stock Exchange.

The separation occurred by means of a pro rata distribution to Grace stockholders of all of the outstanding shares of GCP common stock. One share of GCP common stock was distributed for each share of Grace common stock held as of the close of business on Jan. 27, 2016. No fractional shares were distributed.

Moving forward, Grace will continue to own and operate the company’s existing Catalysts Technologies and Materials Technologies operating segments, except for the Darex Packaging Technologies business. For customers, Grace will continue to deliver high-value, differentiated technologies as one of the global leaders in its segments. For investors, Grace will continue to create value with a focus on sales and earnings growth, margin expansion, strong cash flow, and high returns on capital.

Grace Chairman and Chief Executive Officer Fred Festa noted, “We are as confident as ever that the separation will create value for our shareholders and sharpen our strategic focus on our customers. I’d like to extend congratulations to GCP Applied Technologies and wish them every success as an independent company. I’d also like to thank the employees of both companies who worked so diligently to complete this complex process within the one year timeline we planned.”

About Grace

Built on talent, technology, and trust, Grace is one of the leading global suppliers of catalysts and engineered materials. The company’s two business segments—Grace Catalysts Technologies and Grace Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customer partners around the world. Grace employs approximately 3,700 people in over 30 countries.

Source: Grace


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