US WR Grace completes $27m in divestments

30 September 2009 23:22  [Source: ICIS news]

HOUSTON (ICIS news)--WR Grace completed the sale of two product lines for about $27m (€19m), the US catalyst producer said on Wednesday.

Grace said it sold the two product lines in separate transactions. The company said it expected to report a pre-tax gain of about $22m in its third quarter ended on Wednesday.

The company said it sold its membranes product line to a strategic buyer for about $22m. The membranes product line makes and sells polymer-based membranes used in natural gas separation.

Grace’s firestopping and abatement product line was sold to to another strategic buyer for about $5m, the company said. Firestop products compartmentalise and contain fire and smoke within a building. Abatement products are used for the abatement of asbestos and lead paint.

The product lines accounted for less than 1% of company sales, Grace said.

($1 = €0.69)

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