W. R. Grace & Co. announced Friday that it agreed to acquire the assets of BASF's Polyolefin Catalysts business.
In what would be the Columbia-based chemical company's first significant acquisition since it divided into two companies earlier this year, Grace will acquire BASF's technologies, patents and trademarks, as well as its production plants in Pasadena, Texas and Tarragona, Spain. It also will add about 170 former BASF employees.
Polyolefin catalysts are used to make a variety of plastics from shrink-wrap films to pipes as well as the foams used to make wetsuits and flipflops.
The sale would mark the German chemical giant's exit from the polyolefin catalysts...