Coatings Industry News

Main News Page


Grace Spins Off Construction Unit

Wednesday, February 10, 2016

Comment | More

Global building chemicals and materials supplier W. R. Grace & Co. has completed a separation into two independent, publicly traded companies: W. R. Grace & Co. and GCP Applied Technologies Inc.

The completion announcement comes one year after Grace first announced its plans to divide.

Grace officials said that the separation will create value for shareholders, sharpen its strategic focus, and simplify operating structures.

business
©iStock.com / gremlin

Grace said the separation occurred by means of a pro rata distribution to Grace stockholders of all the outstanding shares of Grace Construction Products common stock.

Founded in 1854, Grace previously operated in three segments: Grace Catalysts Technologies, Grace Materials Technologies and Grace Construction Products.

The Split

Moving forward, Grace will continue to own and operate the company’s existing Catalysts Technologies and Materials Technologies segments, according to the company. The Darex Packaging business will become a part of GCP, however, the company said.

Grace will continue to process catalysts and specialty silicas. The company expects to have sales of approximately $1.8 billion.

The GCP portfolio includes concrete admixtures, fibers, surface treatments, and liquid pigments; additives for cement processing; and fire-protection, waterproofing and masonry products.

Post separation, Grace believes GCP will have sales of approximately $1.5 billion.

On Thursday (Feb. 4), Grace reported that it had named Hudson La Force president and CEO effective immediately. He succeeds the chairman and CEO Fred Festa. Greg Poling leads GCP as president and CEO.

   

Tagged categories: Asia Pacific; Business matters; Business operations; Coating chemistry; Construction; Construction chemicals; EMEA (Europe, Middle East and Africa); Good Technical Practice; Grace Construction Products; Latin America; North America; Sealant; Waterproofing

Comment Join the Conversation:

Sign in to our community to add your comments.


Advertisements
 
KTA-Tator, Inc. - Corporate Office

 
Fischer Technology Inc.

 
Induron Coatings, Inc.

 
Modern Safety Techniques

 
ABKaelin, LLC

 
Tarps manufacturing, Inc.

 
Mitsubishi Gas Chemical America

 
Sauereisen, Inc.

 
HoldTight Solutions Inc.

 
RCG America

 
 
 

Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@paintsquare.com


The Technology Publishing Network

PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy Policy   |   Terms & Conditions   |   Support   |   Site Map   |   Search   |   Contact Us