W. R. Grace & Co. (GRA) to Acquire Assets of Noblestar Catalysts Co. in China
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W. R. Grace & Co. (NYSE: GRA) has signed an agreement to acquire the assets of Noblestar Catalysts Co., Ltd. Noblestar is a manufacturer of fluid catalytic cracking (FCC) catalysts, catalyst intermediates and related products used in the petroleum refining industry and is located in Qingdao, China. The terms of the investment were not disclosed. In order to complete the purchase, Grace established a new Wholly Foreign-Owned Enterprise (WFOE) in the People’s Republic of China.
The transaction has been approved by the boards of directors of both companies, but is subject to the satisfaction of other closing conditions. Grace anticipates completing the transaction as soon as regulatory clearances have been obtained.
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The transaction has been approved by the boards of directors of both companies, but is subject to the satisfaction of other closing conditions. Grace anticipates completing the transaction as soon as regulatory clearances have been obtained.
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