US WR Grace to acquire assets of China catalysts producer Noblestar
30 May 2012 17:33 [Source: ICIS news]
HOUSTON (ICIS)--WR Grace has agreed to acquire the assets of ?xml:namespace>China’s Noblestar Catalysts for an undisclosed sum, the US-based catalysts and specialty chemicals firm said on Wednesday.
Grace said that Noblestar assets at Qingdao in China's Shandong province include facilities for the production of fluid catalytic cracking (FCC) catalysts, catalyst intermediates and related products used in the petroleum refining industry.
“This acquisition provides Grace with immediate, local manufacturing capacity to better serve our refining customers within China and North Asia,” said Shawn Abrams, president of Grace’s catalysts technologies business.
Grace expects to make additional investments at the Qingdao site for environmental, safety and manufacturing upgrades, Abrams added.
Last week, Grace disclosed plans to produce FCC catalysts and related products at Qingdao.By: Stefan Baumgarten+1 713 525 2653
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.