Catalyst Division Lifts Grace's Profits

 W.R. Grace's fourth-quarter net income soared 83%, to $46.5 million excluding Chapter 11-related expenses, a loss on noncore activities, and noncore tax items. Earnings rose 7% including those items. Sales fell 12%, to $678 million because of lower volumes, the previously announced deconsolidation of the Advance Refining Technologies (ART) jv, and the lower cost of metals passed through to customers, Grace says. Those were partially offset by favorable currency exchange rates and price increases. Sales jumped 11% in Latin America, but fell in Asia, Europe...

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