Grace to Acquire Fine Chemicals Firm

W.R. Grace says it has entered into a definitive merger agreement with fine chemicals company Synthetech (Albany, OR) under which Grace will purchase Synthetech for a price of about $19.2 million, less Synthetech's unpaid debt and transaction costs at closing, and subject to a minimum cash balance of $600,000. Synthetech specializes in organic synthesis, biocatalysis and chiral technologies. The acquisition will provide Grace with capacity to manufacture specialty single-site and polypropylene catalysts used to produce plastics, and Synthetech's fine chemicals...

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