Albemarle enters into definitive agreement to sell portion of Performance Catalysts Solutions to W. R. Grace & Co.
"The sale of this portion of our Performance Catalysts Solutions business shows our continued commitment to portfolio management that is in the best interest of our shareholders and employees," said
The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close during the first quarter of 2018.
BofA Merrill Lynch is acting as exclusive financial advisor to Albemarle in connection with this transaction.
Discovering and implementing new and better performance-based sustainable solutions is what motivates all of us. We think beyond business-as-usual to drive innovations that create lasting value. Albemarle employs approximately 4,500 people and serves customers in approximately 100 countries. We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations,
About Polyolefin Catalysts and Components
Rapid economic growth in emerging economies and increased technological innovation in consumer goods is increasing the demand for packaged goods, plastic films and building materials. In turn, this is driving demand for high-performance polyolefin plastics like polyethylene and polypropylene. To meet rising need for catalysts from the world's polyolefin plastics manufacturers, Albemarle's polyolefin and components business offers a wide range of industry-leading catalyst solutions built on our decades of experience and expertise in the field.
Built on talent, technology, and trust, Grace is a leading global supplier of catalysts and engineered materials. The company's two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customers around the world. With approximately 3,700 employees, Grace operates and/or sells to customers in over 60 countries. More information about Grace is available at grace.com.
Some of the information presented in this press release, including, without limitation, statements with respect to the proposed transaction between Albemarle and
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Media Contact: Susan Richardson, (980) 299-5672, Susan.Richardson@albemarle.com; Investor Relations Contact: Matt Juneau, (225) 388-7940, Matt.Juneau@albemarle.com