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W.R. Grace acquires assets of Chinese manufacturer

W.R. Grace said Thursday that it will acquire the assets of Chinese manufacturer Noblestar Catalysts Co. Ltd.

The terms of the deal were not disclosed. Noblestar, based in Qingdao, makes fluid catalytic cracking catalysts and other related products, which are used in the petroleum refining industry.

As part of the agreement, Grace established a new, wholly foreign-owned enterprise in China.

Grace officials said the acquisition would help the Columbia company better serve its refining customers in China and northern Asia.

Grace has had a presence in China since 1986.

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