Grace Acquires Indian Chromatography Company
Friday November 11, 4:01 pm ET
COLUMBIA, Md.--(BUSINESS WIRE)--Nov. 11, 2005--W. R. Grace & Co. (NYSE:GRA - News), announced today that it has acquired Flexit Laboratories Pvt. Ltd. ("Flexit"), a manufacturer and supplier of chromatography products headquartered in Pune, India. Terms of the deal were not disclosed.
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Founded in 1993, Flexit is a privately held company that manufactures columns and accessories for HPLC (high performance liquid chromatography) and SPE (solid phase extraction), tools used by life science and analytical companies for drug discovery and production. Flexit will be integrated into the Discovery Sciences business of Grace's Davison Chemicals segment.
"This acquisition reflects our commitment to growing our Discovery Sciences business as well as our presence in India," said Greg Poling, President, Grace Davison. "We are constantly evaluating opportunities in the Asia Pacific region that fit our strategy to expand our infrastructure, enhance our material science competencies, and allow us to better support our customers' needs. This acquisition is particularly suitable since India's support for research and manufacturing investment encourages pharmaceutical and life science firms to establish a presence in that country. With Flexit, we will be positioned to grow along with these companies."
"Our products for pharmaceutical and life sciences, especially our VYDAC® columns, MODcol® MUTIPACKER® units and SPRING(TM) columns, and ALLTECH® ELSD® instruments, already are well-known in this region," said Bob Gatte, Vice President and General Manager, Discovery Sciences. "With Flexit, we'll now have an infrastructure in place to better provide our Indian customers with easier access to our entire product portfolio. Local production, sales, and technical support enhances our ability to respond to our customers' needs."
Grace has been building its Discovery Sciences business through a strategy of both internal growth and acquisitions. This is the company's sixth acquisition for this product group since 2001.
Grace is a leading global supplier of catalysts and other products and services to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide-range of industrial applications; specialty chemicals, additives and materials for commercial and residential construction; and sealants and coatings for food packaging. With annual sales of more than $2.3 billion, Grace has over 6,500 employees and operations in nearly 40 countries. For more information, visit Grace's web site at www.grace.com.
ALLTECH, DAVISIL, ELSD, GROM, JONES, MODcol, MULTIPACKER,and VYDAC are registered trademarks of Alltech Associates, Inc., a subsidiary of W. R. Grace & Co.-Conn. SPRING is a trademark of Alltech Associates, Inc., a subsidiary of W. R. Grace & Co.-Conn.
This announcement contains forward-looking statements that involve risks and uncertainties, as well as statements that are preceded by, followed by or include the words "believes," "plans," "intends," "targets," "will," "expects," "anticipates," or similar expressions. For such statements, Grace claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include those factors set forth in Grace's most recent Annual Report on Form 10-K, quarterly reports on Form 10-Q and other reports, which have been filed with the SEC. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Grace undertakes no obligation to publicly release any revisions to the forward-looking statements contained in this release, or to update them to reflect events or circumstances occurring after the date of this release.
Contact:
W. R. Grace & Co.
Media Relations:
Ivan Peill, 212-468-4264
ivan.peill@mslpr.com
or
Investor Relations:
Bridget Sarikas, 410-531-4194
bridget.Sarikas@grace.com
Source: W. R. Grace & Co.
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