Grace to buy Dow's UNIPOL PP process technology licensing and catalysts business

W R Grace & Co has signed a definitive agreement to acquire the assets of the UNIPOL Polypropylene Licensing and Catalysts business of The Dow Chemical Company 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.
 
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“The addition of Dow’s world-class polypropylene products and process technology is a significant enhancement of Grace’s market-leading catalysts franchise. 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,” said Fred Festa, Chairman and Chief Executive Officer, Grace.
 
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Dow had previously announced its intent to divest this business on March 14, 2013, as part of the company’s ongoing commitment to proactive portfolio management and plan to divest nearly $ 1.5 billion in assets by mid to late 2014. “Today’s announcement is another clear demonstration of Dow’s rigorous focus on selectively shifting our portfolio away from assets that are no longer a strategic fit and optimising their value,” said Andrew Liveris, Dow’s Chairman and CEO, in a separate press release.