Grace Agrees to Purchase Dow’s UNIPOL™ Polypropylene Process Technology Licensing and Catalysts Business

  Grace Agrees to Purchase Dow’s UNIPOL™ Polypropylene Process Technology
  Licensing and Catalysts Business

Business Wire

COLUMBIA, Md. -- October 11, 2013

W. R. Grace & Co. (NYSE: GRA) announced that it has signed a definitive
agreement to acquire the assets of the UNIPOL™ Polypropylene Licensing and
Catalysts business of The Dow Chemical Company (NYSE: DOW) for a cash purchase
price of $500 million. The transaction is expected to close by year end,
pending regulatory approvals.

Dow’s UNIPOL™ licensing and catalysts systems business offers industry-leading
UNIPOL™ Polypropylene Process Technology, which includes the advanced process
control UNIPOL UNIPPAC™ Process Control software, SHAC™ Catalysts Systems, and
6^th Generation non-phthalate CONSISTA™ Catalysts Systems.

Grace is a leading supplier of polyolefin catalyst technology and has the
broadest portfolio of polyolefin catalyst technologies of any independent
polyethylene/polypropylene catalyst producer.

“The addition of Dow’s world-class polypropylene products and process
technology is a significant enhancement of Grace’s market-leading catalysts
franchise,” said Grace Chairman and Chief Executive Officer Fred Festa. “The
agreement reflects Grace’s continuing commitment to invest in our catalyst
businesses, particularly in technology. This acquisition strengthens our
ability to provide polypropylene catalyst solutions to our customers around
the world.”

Grace was advised on the transaction by Blackstone Advisory Partners L.P.

Grace will address the acquisition during the company’s Third Quarter 2013
earnings conference call scheduled for Wednesday, October 23, at 11:00 a.m.
ET. Access to the live webcast and the accompanying slides will be available
through the Investor Information section of the company’s website,
www.grace.com.

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 6,500 people in over 40
countries and had 2012 net sales of $3.2 billion. More information about Grace
is available at www.grace.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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