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MarketScreener Homepage  >  Equities  >  Nyse  >  W. R. Grace & Co.    GRA

W. R. GRACE & CO.

(GRA)
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Grace Licenses UNIPOL® PP Process Technology to Dongguan Grand Resource for Two Additional Lines

10/26/2020 | 07:00am EST

COLUMBIA, Md., Oct. 26, 2020 (GLOBE NEWSWIRE) -- W. R. Grace & Co. (NYSE:GRA), the leading independent supplier of polyolefin catalyst technology and polypropylene (PP) process technology, has licensed its UNIPOL® PP Process Technology to Dongguan Grand Resource Science & Technology Co. Ltd. (DGR). The UNIPOL® PP facility, located in Guangdong Province, China, is designed to produce 600 KTA of polypropylene. The project is scheduled to be completed in 2023.

This is part of the continued investment in UNIPOL® PP Process Technology lines by DGR. The first license was signed in 2016. Building additional capacity at the same site will help DGR further optimize costs, shorten construction time, and broaden their product portfolio.

In addition to the process technology license, the collaboration includes a long-term catalyst supply agreement between Grace and DGR, giving DGR the ability to produce a wide variety of resin grades and provide more polypropylene options to their customers.

Grace's all gas-phase UNIPOL® PP Process Technology provides the broadest range of polypropylene homopolymers, random copolymers, and impact copolymers in the industry. The process technology, coupled with Grace’s proprietary catalyst and donor systems and the UNIPPAC® Advanced Process Control System, allow for maximum performance.

“We are excited to partner with Grace once again and continue to build on our existing relationship. Based on our previous UNIPOL® PP technology experience, it was an easy decision to put our trust in Grace,” said Mr. Li Hanchu, General Manager of GDR. “We have been pleased with the operability of our existing UNIPOL® PP plant and the services and support that Grace has provided over the last several years. Choosing to build additional capacity using the UNIPOL® PP Process Technology and using Grace catalysts that have been specifically developed to get the most out of the process, enable us to tap into ongoing technical support to achieve even better results.”

Laura Schwinn, President of Grace’s Specialty Catalysts business, said, “We are extremely pleased that DGR has chosen UNIPOL® PP Process Technology as the basis for its continued growth in the polypropylene business. We welcome the trust they have placed in Grace and look forward to helping them succeed as a key regional player. Our process technology, our catalysts, and our global technical services team will improve DGR’s ability to produce leading products and meet growing demand for non-phthalate resins in the Chinese market.”

Visit Grace’s website for more information about Grace polyolefin catalysts and process technology.

About Grace’s UNIPOL® PP Process Technology

Grace is the leading supplier of polyolefin catalyst technology and has the broadest portfolio of polyolefin catalyst technologies of any independent polyethylene/polypropylene catalyst producer. Grace is an industry leader in offering UNIPOL® PP Process Technology, 6th Generation non-phthalate CONSISTA® catalysts and donors, and UNIPOL UNIPPAC® Process Control software.

About Grace

Built on talent, technology, and trust, Grace is a leading global supplier of catalysts and engineered materials. The company’s two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customers around the world. With approximately 3,900 employees, Grace operates and/or sells to customers in over 70 countries. More information about Grace is available at grace.com.

Forward-Looking Statements

This announcement contains forward-looking statements, that is, information related to future, not past, events. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. Forward-looking statements include, without limitation, statements regarding: expected financial positions; results of operations; cash flows; financing plans; business strategy; operating plans; capital and other expenditures; impact of COVID-19 on our business; competitive positions; growth opportunities for existing products; benefits from new technology; benefits from cost reduction initiatives; succession planning; and markets for securities. For these statements, Grace claims the protections of the safe harbor for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. Grace is subject to risks and uncertainties that could cause actual results or events to differ materially from its projections or that could cause other forward-looking statements to prove incorrect. Factors that could cause actual results or events to differ materially from those contained in the forward-looking statements include, without limitation: risks related to foreign operations, especially in areas of active conflicts and in emerging regions; the costs and availability of raw materials, energy and transportation; the effectiveness of Grace's research and development and growth investments; acquisitions and divestitures of assets and businesses; developments affecting Grace’s outstanding indebtedness; developments affecting Grace's pension obligations; legacy matters (including product, environmental, and other legacy liabilities) relating to past activities of Grace; its legal and environmental proceedings; environmental compliance costs (including existing and potential laws and regulations pertaining to climate change); the inability to establish or maintain certain business relationships; the inability to hire or retain key personnel; natural disasters such as storms and floods; fires and force majeure events; the economics of our customers’ industries, including the petroleum refining industry; public health and safety concerns, including pandemics and quarantines; changes in tax laws and regulations; international trade disputes, tariffs, and sanctions; the potential effects of cyberattacks; and those additional factors set forth in Grace's most recent Annual Report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, which have been filed with the Securities and Exchange Commission and are readily available on the internet at www.sec.gov. Grace's reported results should not be considered as an indication of its future performance. Readers are cautioned not to place undue reliance on Grace's projections and forward-looking statements, which speak only as of the dates those projections and statements are made. Grace undertakes no obligation to release publicly any revisions to the projections and forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.

Media Relations
Rich Badmington
T +1 410.531.4370
rich.badmington@grace.com

Investor Relations
Jeremy Rohen
+1 410.531.8234
jeremy.rohen@grace.com

 

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Financials (USD)
Sales 2020 1 735 M - -
Net income 2020 123 M - -
Net Debt 2020 1 655 M - -
P/E ratio 2020 30,0x
Yield 2020 2,10%
Capitalization 3 693 M 3 693 M -
EV / Sales 2020 3,08x
EV / Sales 2021 2,81x
Nbr of Employees 4 000
Free-Float 81,7%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 63,18 $
Last Close Price 55,79 $
Spread / Highest target 34,4%
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Spread / Lowest Target 2,17%
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Andrew Hudson La Force President, CEO, COO & Director
Christopher J. Steffen Non-Executive Chairman
William C. Dockman Chief Financial Officer & Senior Vice President
Mark E. Tomkins Independent Director
Robert F. Cummings Independent Director
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