Grace and Chevron Convert Catalyst JV to Equal Partnership

W.R. Grace says it has completed the sale of a 5% stake in Advanced Refining Technologies (ART), a hydroprocessing catalysts joint venture with Chevron Products, to Chevron on November 30, 2009, and as a result, Grace has reduced its interest in ART from 55% to 50%, to achieve a balanced ownership structure. Grace and Chevron have also amended certain agreements governing Grace's supply of catalyst to the jv and the related funding of capital spending in support of the jv, Grace says. “ART has grown significantly since it began operations in 2001, and these...

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