WR Grace, Global Supplier of Catalysts, Acquires Polyolefin Catalysts Business of BASF
United
States: WR
Grace, a United States based global supplier of catalysts and specialty
materials, has acquired the polyolefin business of BASF, which is a German
based chemical manufacturer on June 30, 2016. The financial transactions details
associated with the acquisition have not been revealed yet. Post-acquisition,
Grace would own LYNX high-activity polyethylene (PE) catalyst technologies and LYNX
polypropylene (PP) catalyst technologies of BASF. Grace would have rights over
the patents and trademarks of the BASF and would have legal rights on production
plants in Pasadena, Texas, and Tarragona, Spain. After the complete closure of
acquisition, 170 employees of BASF have joined Grace.
TechSci Research depicts that
the acquisition of polyolefin catalysts business of BASF by Grace would
strengthen the market position of the latter company. The deal would improve
the manufacturing network of WR Grace. Furthermore, acquisition would increase
the customer base of Grace and the company would be in the state of meeting the
varied demand of its customers by the expanded product portfolio.
According to the recent
report published by TechSci Research, “Iran Oil Refinery Chemicals Market
By Type (Merchant Hydrogen, Refining Catalysts, etc.), By Application
(Petroleum Conversion, Petroleum Treatment, Water and Wastewater Treatment and
Others), Competition Forecast and Opportunities, 2011 – 2021”, the oil refinery chemicals market in Iran is projected to grow at a CAGR
of 5% over the next five years. In 2015, merchant hydrogen held the largest
share in the Iran oil refinery chemicals market, owing to growing demand for hydrogen
due to its ability to remove undesirable pollutants from crude oil products.
Refining catalysts, pH adjusters and corrosion inhibitors are the other major
oil refinery chemicals consumed in Iran.