29 November 2012 10:58 [Source: ICIS news]
LONDON (ICIS)--WR Grace has acquired the assets of China’s Noblestar Catalysts for an undisclosed sum, the US-based catalysts and specialty chemicals firm said on Thursday.
Grace said that Noblestar assets in Qingdao in China's Shandong province include facilities for the production of fluid catalytic cracking catalysts, catalyst intermediates and related products used in the petroleum refining industry.
“The successful acquisition of Noblestar’s assets in Qingdao is another milestone in Grace’s long relationship with China. It is an important step in our strategy to provide world-class products and support to the petroleum refining industry,” said Grace’s chairman and CEO Fred Festa.
Grace said it expects to make additional investments at the Qingdao site for environmental, safety and manufacturing upgrades.
Currently, Grace operates five manufacturing facilities, three sales offices and two technical service centres in mainland China, including its Asia-Pacific regional headquarters in Shanghai.
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