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ART Announces CLG Hydrocracking Catalysts Sales Agreement

  ART Announces CLG Hydrocracking Catalysts Sales Agreement

Business Wire

COLUMBIA, Md. -- February 28, 2013

Advanced Refining Technologies LLC (ART) announced that it has signed an
agreement with Chevron Lummus Global (CLG) regarding hydrocracking and lubes
hydroprocessing catalysts. Under this agreement, ART will have the exclusive
right to sell CLG's hydrocracking and lubes hydroprocessing catalysts to CLG's
licensees and other petroleum refiners for unit refills. The agreement will
streamline hydroprocessing catalyst supply and improve technical service for
refining customers by establishing ART as the single point of contact for all
their hydroprocessing catalyst needs.

ART is a joint venture between subsidiaries of W. R. Grace & Co. (NYSE: GRA)
and Chevron Corporation (NYSE:CVX). CLG is a joint venture between a
subsidiary of Chevron and CB&I’s Lummus Technology group.

ART is a leading supplier of hydroprocessing catalysts, with a portfolio of
distillate hydrotreating, fixed bed resid hydrotreating, and ebullated bed
resid hydrocracking catalysts. CLG is a world leader in hydroprocessing
technology development and commercialization, with licensing, engineering, and
petroleum refining expertise. Its portfolio includes hydrocracking
(ISOCRACKING), lubes hydroprocessing (ISODEWAXING and ISOFINISHING),
ebullating bed resid hydrocracking (LC-FINING), and hydrotreating
(ISOTREATING) technologies.

Scott Purnell, managing director of ART, commented, "We are pleased to add
hydrocracking and lubes hydroprocessing catalysts to our current product
portfolio. CLG'sISOCRACKING^®, ISOTREATING^®, ISODEWAXING^®, and
ISOFINISHING^® catalysts are proven products that will help our refining
customers improve quality and yield. With this new agreement, all of our
customers’ hydroprocessing catalyst needs can be provided through a single
point of contact."

Leon de Bruyn, managing director of CLG, added, "We continually invest to
provide our licensees with world-class process technology, catalysts and
support services. This agreement represents a unique combination of ART's
well-established portfolio of hydrotreating catalysts, extensive sales network
and manufacturing expertise, together with our hydrocracking and lubes
hydroprocessing catalyst technologies, and engineering and technical know-how.
It will allow our customers to receive broader service and more advanced
catalyst materials, and will improve the competitiveness and profitability of
their refineries.”

Under the agreement, ART will be the worldwide provider for hydrocracking and
lubes hydroprocessing catalysts. CLG will continue to focus on its world-class
technology development, licensing, design, and revamp of hydrocracking,
lubricant base oil, resid hydrotreating, and resid hydrocracking plants
globally. Both ART and CLG customers will continue to have access to the broad
depth of Chevron technical service and hydroprocessing operating expertise.

About Grace

Grace is a leading global supplier of catalysts; engineered and packaging
materials; and, specialty construction chemicals and building materials. The
company’s three industry-leading business segments—Grace Catalysts
Technologies, Grace Materials Technologies and Grace Construction
Products—provide innovative products, technologies and services that enhance
the quality of life. Grace employs approximately 6,300 people in over 40
countries and had 2012 net sales of $3.16 billion. More information about
Grace is available at www.grace.com.

About Chevron Lummus Global

CLG licenses refining hydroprocessing technologies and catalyst systems
worldwide, and is a 50-50 joint venture between Chevron U.S.A. INC. and CB&I’s
Lummus Technology group. CLG’s research and development staff is continuously
seeking advancements in catalyst and technology that will improve operating
economics. CLG is the leading process technology licensor for alternate
sources of fuels including: oil sands bitumen, shale oil, biofuels, and extra
heavy oils. For more information about Chevron Lummus Global please visit:
www.chevronlummus.com

This announcement contains forward-looking statements, that is, information
related to future, not past, events. Such statements generally include the
words “believes,” “plans,” “intends,” “targets,” “will,” “expects,”
“suggests,” “anticipates,” “outlook,” “continues” or similar expressions.
Forward-looking statements include, without limitation, all statements
regarding Grace’s Chapter 11 case; expected financial positions; results of
operations; cash flows; financing plans; business strategy; budgets; capital
and other expenditures; competitive positions; growth opportunities for
existing products; benefits from new technology and cost reduction
initiatives, plans and objectives; and markets for securities. For these
statements, Grace claims the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform Act of 1995.
Like other businesses, Grace is subject to risks and uncertainties that could
cause its actual results to differ materially from its projections or that
could cause other forward-looking statements to prove incorrect. Factors that
could cause actual results to materially differ from those contained in the
forward-looking statements include, without limitation: developments affecting
Grace’s bankruptcy, propose plan of reorganization and settlements with
certain creditors, the cost and availability of raw materials (including rare
earth) and energy, developments affecting Grace’s underfunded and unfunded
pension obligations, risks related to foreign operations, especially in
emerging region, acquisitions and divestitures of assets and gains and losses
from dispositions or impairments, the effectiveness of its research and
development and growth investments, its legal and environmental proceedings,
costs of compliance with environmental regulation and those factors set forth
in Grace’s most recent Annual Report on Form 10-K, quarterly report on Form
10-Q and current reports on Form 8-K, which have been filed with the
Securities and Exchange Commission and are readily available on the Internet
at www.sec.gov. Reported results should not be considered as an indication of
future performance. Readers are cautioned not to place undue reliance on
Grace’s projections and forward-looking statements, which speak only as the
date thereof. Grace undertakes no obligation to publicly release any revision
to the projections and forward-looking statements contained in this
announcement, or to update them to reflect events or circumstances occurring
after the date of this announcement.

Contact:

W. R. Grace & Co.
Media Relations
Rich Badmington, +1 410-531-4370
rich.badmington@grace.com
or
Investor Relations
Mark Sutherland, +1 410-531-4590
mark.sutherland@grace.com
 
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