W. R. Grace Split to Affect Discovery Sciences
Grace’s Discovery Sciences business, part of the Material Technologies segment, supplies products for the pharmaceutical and life science market, including silica-based separation media and excipients. Its separation media include products for analytical, flash, preparative and process chromatography as well as the single-use bioprocessing market, with brands such as Alltech and Vydac.
Columbia, MD 2/5/15—W R Grace & Co. announced that it plans to separate into two publicly traded companies. Grace’s Discovery Sciences business will join “New Grace,” which is comprised of the Catalysts Technologies and Materials Technologies segments. Grace’s Construction Products and Darex packaging business will comprise “New GCP.” The separation is expected to be completed in approximately 12 months and will be a tax-free spin-off to Grace shareholders. “The time is right to create two strong, independent companies that will benefit from improved strategic focus, simplified operating structures and more efficient capital allocation,” stated Grace Chairman and CEO Fred Festa. New Grace is expected to be a leader in process catalyst and specialty silicas with $1.8 billion in revenue, or $2.2 billion including the unconsolidated joint venture, ART. Its focus will be growth, margin expansion and strong cash flow. Mr. Festa will lead New Grace.