Grace completes acquisition Noblestar Catalysts assets

Grace completes acquisition of Noblestar Catalysts assets

10:34 AM, 29th November 2012
Grace completes acquisition of Noblestar Catalysts assets
Fred Festa, Chairman and CEO, Grace.

QINGDAO, CHINA: W R Grace & Co completed acquisition of assets of Noblestar Catalysts Co Ltd, a Qingdao, China-based manufacturer of fluid catalytic cracking (FCC) catalysts, catalyst intermediates and related products used in the petroleum refining industry.

“Qingdao is a leading economic centre in China. We welcome foreign investment, especially from companies like Grace, which has world-class, leading technologies that can help develop our fast-growing petrochemical industry while also acknowledging environmental and safety concerns,” said Cong Yan, Vice Director General, Qingdao Bureau of Commerce, welcoming Grace’s investment.

“The successful acquisition of Noblestar’s assets in Qingdao is another milestone in Grace’s long relationship with China. And it is an important step in our strategy to provide world-class products and support to the petroleum refining industry,” said Fred Festa, Chairman and CEO, Grace.

“Our goal is for customers to look to Grace for innovative technology and industry-leading technical service, as well as a globally integrated manufacturing network that aligns with the world’s demand,” added Festa. Grace expects to make additional investments at the Qingdao site for environmental, safety and manufacturing upgrades.

“We have been happy and proud to be a business partner of Grace’s refining technologies business for years and we are excited to continue a business relationship with Grace in the future,” said Chao Cui, CEO and President, Noblestar Catalysts.

© WOC News

 

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