Moody s places W R Grace s credit rating on review for downgrade - Baltimore Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
An ammonia release occurred at the
Eastman chemical plant in St. Gabriel, LA on Monday, causing officials to temporarily close down part of a highway near the facility, ABC News affiliate WBRZ reported. Eastman said in a statement to the station that three employees at a business near the plant reported that they were exposed to the ammonia.
Workers at the Eastman plant were able to stop the release in about 10 minutes, according to the television news station. An investigation into the cause of the incident is ongoing.
Here are some other developments in the chemical industry that captured headlines over the last week:
ALBemarle Corporation a leader in the global specialty chemicals industry, today announced that it has signed a definitive agreement to sell its Fine Chemistry Services business to W.R. Grace & Co. for approximately $570 million consisting of $300 million in cash, and the issuance to ALBemarle of preferred equity of a W.R. Grace & Co. subsidiary having an aggregate stated value of $270 million . As part of the .
Albemarle To Sell Fine Chemistry Services Biz To W.R. Grace For $570 Mln
WASHINGTON (dpa-AFX) - Albemarle Corp. (ALB), Thursday said it has agreed to sell its Fine Chemistry Services business to W.R. Grace & Co. for about $570 million.
The transaction price consisting of $300 million in cash and the issuance to Albemarle of preferred equity of a W.R. Grace & Co. subsidiary having a value of $270 million.
As part of the transaction, Grace will acquire Albemarle s operations in Tyrone, Pa., and South Haven, Mich.
Albemarle s CEO Kent Masters said, This transaction reflects our ongoing commitment to actively and continuously refine our portfolio as we focus Albemarle on its core, growth-oriented business segments. Fine Chemistry Services is a profitable business, and we have confidence that Grace is positioned to help it thrive. I want to thank the strong operating team for their excellent performance and professionalism throughout the process.
Grace Expands Fast Growing Pharma Portfolio through Acquisition of Fine Chemistry Business
W. R. Grace & Co. today announced that it has entered into a definitive agreement to acquire the Fine Chemistry Services business of ALBemarle Corporation for approximately $570 million, including $300 million paid in cash at closing and $270 million funded through the issuance to ALBemarle of non-participating preferred equity of a newly created Grace subsidiary. The acquisition significantly strengthens and … Highly Complementary Bolt-on Acquisition Accelerates Strategy of Building Higher Growth Portfolio Accretive to Revenue Growth Rate, EBITDA Margin and Adjusted EPS in 2021 Significantly Strengthens Technology, Product and Manufacturing Capabilities
W. R. Grace & Co. (NYSE: GRA, the “Company”) today announced that it has entered into a definitive agreement to acquire the Fine Chemistry Services business (“FCS”) of ALBemarle Corporation (NYSE: ALB) for approximately $57