W. R. Grace & Co. announced Friday it has finalized its acquisition of German chemical giant BASF's polyolefin catalysts business.
Financial terms of the deal, announced in April, were not disclosed, but will be discussed as part of the Columbia chemical company's second quarter earnings.
The acquisition expands W. R. Grace's product portfolio and network of manufacturing facilities. The deal includes BASF's polyolefin catalyst patents, trademarks and technologies, plus production plants in Texas and Spain. Polyolefin catalysts are used to create resins for shrink-wrap, pipes and other products.
About 170 BASF employees will join W. R. Grace through the acquisition.
The acquisition marks W. R. Grace's first significant deal since it split into two companies earlier this year.
twitter.com/sarahgantz