Albemarle Corporation (ALB) has signed a definitive agreement to sell its polyolefin catalysts and components business to W R Grace & Co (GRA) in a cash transaction valued at approximately $416 million.
The organometallics and curatives portions of the performance catalysts solutions business will remain with Albemarle. As part of the transaction, Grace will assume the lease and operations at the product development centre in Baton Rouge, and operations at the Yeosu, South Korea site.
The transaction expected to close during the first quarter of 2018.
"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 Luke Kissam, Albemarle chairman, president and CEO.
Albemarle Corporation (ALB) has signed a definitive agreement to sell its polyolefin catalysts and components business to W R Grace & Co (GRA) in a cash transaction valued at approximately $416 million.
The organometallics and curatives portions of the performance catalysts solutions business will remain with Albemarle. As part of the transaction, Grace will assume the lease and operations at the product development centre in Baton Rouge, and operations at the Yeosu, South Korea site.
The transaction expected to close during the first quarter of 2018.
"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 Luke Kissam, Albemarle chairman, president and CEO.
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