WR Grace, Chevron become equal partners in catalyst jv
14 January 2010 23:59 [Source: ICIS news]
HOUSTON (ICIS news)--WR Grace sold a 5% interest of its stake in a catalyst joint venture with Chevron Products, giving both equal shares in the joint venture, the US catalyst producer said on Thursday.
The joint venture, Advanced Refining Technologies (ART), supplies hydroprocessing catalysts that remove sulphur and other contaminants from petroleum.
Grace's stake fell to 50% from 55%.
Grace said it expects to report a gain of $5m (€3.45m) as a result of the sale.
Other details of the deal were not disclosed.
($1 = €0.69)
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