Grace to Provide UNIPOL PP Technology and Services To Hyosung Corporation in Seoul, Korea
By Business Wire News
By Business Wire News
W. R. Grace & Co. (NYSE: GRA) announces that it will provide its UNIPOL® polypropylene (PP) technology and services to Hyosung Corporation of Seoul, Korea for its new facility in Ulsan, which is expected to open in 2017.
Hyosung is a Korean industrial conglomerate operating in various industries, including machinery, IT, construction, and textiles. Its Ulsan facility is expected to produce polypropylene at a rate of 200 kta, or kilotons per year. This is the second UNIPOL® PP license for Hyosung.
Al Beninati, President of Grace Catalysts Technologies, said, “We’re pleased that Hyosung has experienced such success with its first license that its leaders have decided to contract with us again for their new plant in Ulsan. Our reliable technology can be implemented with low investment and operating cost, is easy to operate, and produces state-of-the-art PP products. But what truly helped us earn additional business from Hyosung was our commitment to customer service.”
Young-Gyo Choi, Hyosung’s Division President, said, “We are delighted to partner again with Grace, the world’s leading independent PP technology licensor and catalyst producer. Their UNIPOL® PP process technology offers us the most advanced PP product capability available. We are already producing market-leading PP products in our existing UNIPOL® PP technology line, and with this new line, we are planning to produce even more advanced PP products.”
About Grace’s UNIPOL®PP Technology
Grace is a leading supplier of polyolefin catalyst technology and has the broadest portfolio of polyolefin catalyst technologies of any independent polyethylene/polypropylene catalyst producer. Grace’s industry-leading UNIPOL® PP licensing and related catalysts include the UNIPOL UNIPPAC® Process Control software, SHAC® Catalysts Systems, and 6th Generation non-phthalate CONSISTA® Catalysts Systems.
Built on talent, technology, and trust, Grace is a leading global supplier of catalysts; engineered and packaging materials; and specialty construction chemicals and building materials. The company’s three industry-leading business segments—Grace Catalysts Technologies, Grace Materials Technologies, and Grace Construction Products—provide innovative products, technologies, and services that improve the products and processes of customer partners in over 155 countries around the world. Grace’s 2014 net sales were $3.2 billion. More information about Grace is available at grace.com.
UNIPOL® and UNIPOL UNIPPAC® are trademarks of The Dow Chemical Company or an affiliated company of Dow.W. R. Grace & Co.-Conn. and/or its affiliates are licensed to use the UNIPOL® and UNIPOL UNIPPAC® trademarks in the area of polypropylene.
This announcement contains forward-looking statements, that is, information related to future, not past, events. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. Forward-looking statements include, without limitation, expected financial positions; results of operations; cash flows; financing plans; business strategy; operating plans; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; and markets for securities. For these statements, Grace claims the protection of the safe harbor for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. Like other businesses, Grace is subject to risks and uncertainties that could cause its actual results to differ materially from its projections or that could cause other forward-looking statements to prove incorrect. Factors that could cause actual results to materially differ from those contained in the forward-looking statements include, without limitation: risks related to foreign operations, especially in emerging regions; the cost and availability of raw materials and energy; the effectiveness of its research and development and growth investments; acquisitions and divestitures of assets and gains and losses from dispositions; developments affecting Grace’s outstanding indebtedness; developments affecting Grace’s funded and unfunded pension obligations; its legal and environmental proceedings; uncertainties that may delay or negatively impact the separation transaction or cause the separation transaction to not occur at all; uncertainties related to the company’s ability to realize the anticipated benefits of the spin-off; the inability to establish or maintain certain business relationships and relationships with customers and suppliers or the inability to retain key personnel during the period leading up to and following the separation transaction; costs of compliance with environmental regulation; and those additional factors set forth in Grace’s most recent Annual Report on Form 10-K, quarterly report on Form 10-Q and current reports on Form 8-K, which have been filed with the Securities and Exchange Commission and are readily available on the Internet at www.sec.gov.Reported results should not be considered as an indication of future performance. Readers are cautioned not to place undue reliance on Grace’s projections and forward-looking statements, which speak only as the date thereof. Grace undertakes no obligation to publicly release any revision to the projections and forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.