W. R. Grace & Co. will acquire Albemarle Corporation’s Polyolefin Catalysts business, a global leader in proprietary and custom-manufactured single-site catalysts as well as metallocenes and activators, doe US$ 416 million. The transaction is expected to be complete by the first quarter of 2018, subject to regulatory approval and other closing conditions. Grace expects to finance the transaction with a combination of debt and cash. The acquisition also includes a comprehensive series of highly optimized Ziegler-Natta catalysts for polyethylene production.

The acquisition strengthens Grace’s catalysts technology portfolio, commercial relationships, and manufacturing network. “This transaction aligns perfectly with our strategy to expand our leadership position in polyolefin catalysts,” said Grace Chairman and Chief Executive Officer Fred Festa. “I am excited about the opportunities created by adding the talent, advanced technology, and manufacturing capabilities of the business. Both the catalysts and activators product lines are tied to high-growth applications and the manufacturing assets bring important scale and capital synergies.”

A leader in polyolefin catalysts and licensing, Grace boasts of the world’s broadest portfolio of polypropylene and polyethylene catalyst technologies used to produce thermoplastic resins for a variety of applications. Grace supplies catalyst solutions for all polyolefin processes, as well as polypropylene process technology and process controls.