Grace Acquires Waterproofing Technology and Capacity in Australia
COLUMBIA, Md. -- April 03, 2013
W. R. Grace & Co. (NYSE: GRA) announced the acquisition of Chemind
Construction Products, a privately-held specialty manufacturer and distributor
of waterproofing coatings technologies and materials for the design and
construction industry. Chemind (pronounced kĕm’-eened) is headquartered and
conducts R&D and manufacturing operations in Brisbane, Australia. Terms were
The acquisition will become part of Grace Construction Products (GCP), a
leading global provider of construction chemicals and building materials that
enhance the durability, strength and appearance of structures all over the
world. In 2012, GCP posted sales of $1.0 billion.
Chemind adds new waterproofing technology to Grace’s global Construction
Products portfolio and establishes the company’s first waterproofing R&D and
manufacturing facility in Australia. The new site will produce waterproofing
materials for repair, maintenance and improvement markets as well as for new
Chemind formulates and manufactures specialty, high performance waterproof
coatings that protect and preserve as well as improve the integrity,
performance, and life of commercial, residential, and civil structures.
Chemind also distributes a broad range of waterproofing coatings and
materials, including Grace’s own waterproofing solutions, throughout
“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.”
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 Grace Construction Products
Grace Construction Products is a world-leading provider of construction
chemicals and building materials that are used to enhance the durability,
strength, and appearance of structures all over the world. Products include
concrete admixtures, fibers, surface treatments and liquid pigments, additives
for cement processing and fire protection, waterproofing and masonry products.
More information is available online at http://www.grace.com.
Chemind commenced business as Chemical Industries,in 1976 to service the need
for specialized and sophisticated waterproofing and coatings systems being
demanded by contractors and consultants for the construction industry. Our
Chemind Construction Products division continues to meet the needs of the
construction industry throughout Australia and the Asia-Pacific region.
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.
W. R. Grace & Co.
Rich Badmington, +1 410-531-4370
Mark Sutherland, +1 410-531-4590
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