WR Grace & Co (NYSE:GRA) has announced that it has completed the sale of 5% interest in its Advanced Refining Technologies LLC (ART). ART is a joint venture with Chevron Products Company. Grace & Co’s sale decreased its interest from 55% to 50% resulting in a balanced ownership structure and changing the joint venture into an equal partnership.
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Art is engaged in the supply of hydroprocessing catalysts for the removal of sulfur and other contaminants from petroleum. The process produces environmentally friendly fuels, and provides refiners a less expensive feedstock. For more information about the WR Grace and Chevron partnership, contact Susette Smith, WR Grace & Co Investor Relations, at 410.531.4590, or at suzette.smith@grace.com.
W.R. Grace & Co. (Grace) is engaged in the production and sale of specialty chemicals and specialty materials. The Company operates in two segments: Grace Davison and Grace Construction Products. Grace Davison markets its products to a range of industrial customers, including those in the energy and refining industry, consumer, industrial and packaging industries, petro-/bio- chemical industry and the pharmaceutical and life sciences industry. Grace Construction Products (GCP) produces and sells specialty construction chemicals and specialty building materials, including concrete admixtures and fibers; additives used in cement processing; building materials used in commercial and residential construction and renovation to protect buildings from water, vapor and air penetration, and fireproofing materials used to protect buildings in the event of fire. Grace Davison and GCP accounted for approximately 65% and 35%, respectively of its sales during the year ended December 31, 2008.
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