Grace Acquires Waterproofing Company
MONDAY, APRIL 8, 2013
Grace Construction Products is expanding its reach into Australia and Asia Pacific with the acquisition of Chemind Construction Products, a privately held manufacturer and distributor of waterproofing coatings and materials.
Financial terms of the transaction were not disclosed in the company's announcement on Wednesday (April 3).
Based in Brisbane, Australia, Chemind formulates and manufactures specialty, high-performance waterproof coatings for a range of commercial, residential, and civil structures throughout Australia and the Asia-Pacific region, according to Grace.
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Grace's acquisition of Australia-based Chemind is in line with the U.S. company's global expansion strategy. |
Chemind also distributes a broad range of waterproofing coatings and materials, including Grace’s waterproofing products, throughout the country. The company was founded in 1976 as Chemical Industries.
'Highly Complementary'
“Chemind’s products are highly complementary to Grace’s waterproofing product and technology portfolio,” said Adam Grose, vice president and general manager, Asia, Grace Construction Products.
“This acquisition is consistent with our strategy to expand our waterproofing business globally.”
The Chemind acquisition will provide Grace with its first waterproofing R&D and manufacturing facility in Australia. The facility will produce waterproofing materials for repair, maintenance and improvement markets, as well as new construction, the company noted.
About Grace
Grace Construction Products, a business unit of W.R. Grace & Co. of Columbia, MD, is a supplier of construction chemicals and building materials including concrete admixtures, fibers, surface treatments and liquid pigments; additives for cement processing; and fire protection, waterproofing and masonry products. In 2012, the segment reported sales of $1.0 billion.
Worldwide, Grace employs about 6,300 people in more than 40 countries. The company had net sales of $3.16 billion in 2012.
Tagged categories: Acquisitions; Building envelope; Building Envelope; Grace Construction Products; Mergers; Waterproofing
