W. R. Grace & Co. has signed an agreement to acquire the assets of BASF’s Polyolefin Catalysts business, the company announced Friday.
The transaction is pending regulatory approval and required consultations with employee representatives, but the W.R. Grace expects the sale to close by the third quarter of 2016. The terms of the purchase were not disclosed.
“This is an important addition to Grace’s strong portfolio of polyolefin catalysts technologies,” said chairman and chief executive officer of W. R. Grace & Co., Fred Festa. “Grace is uniquely positioned to serve the growing needs of the polyolefins market and benefit from operational synergies. This opportunity is perfectly aligned with our focus on core catalysts and materials technologies.”
Grace is a supplier of polyolefin catalysts technology, as well as polypropylene (PP) process technology, and has a broad portfolio of polyolefin catalyst technologies.
BASF’s Polyolefin Catalysts business includes its LYNX high-activity PE catalyst technologies that are utilized commercially in slurry processes for the production of high-density PE resins such as bimodal film and pipe. LYNX PP catalyst technologies are used commercially in all major PP process technologies including slurry, bulk loop, stirred gas, fluid gas, and stirred bulk.
The acquisition includes technologies, patents, trademarks, and production plants in Pasadena, TX and Tarragona, Spain, including approximately 170 employees globally.