W. R. Grace formed a new entity, GCP Applied Technologies for its construction chemicals business
United States: W.R. Grace & Co., Maryland based company
announced to form a separate entity GCP Applied Technologies for its
construction chemicals business. The spin-off is expected to be completed by 3rd
February 2016. The GCP Applied Technologies would deal with the specialty
construction chemicals, building materials, packaging and sealants and coatings
businesses for W.R. Grace.
The trading of GCP Applied Technologies shares is expected
to begin from 26th January 2016 after prior approval, however regular
trading is expected to begin from 4th February 2016. The shares of
the GCP Applied Technologies will be traded on New York Stock exchange under
the symbol GCP. The shareholders of W.R. Grace would be receiving shares of GCP
Applied Technologies common stock for every share of Grace
common stock at the closure of the business which is expected to take place on
27th January 2016.
TechSci Research depicts that formation of new entity would further help
W.R. Grace to streamline their market strategies, market position and
investments.
According to the recently published reports by TechSci Research on China
Construction Chemicals Market Forecast & Opportunities, 2020, Asia
Pacific is the fastest growing region in the construction chemicals market. Wherein,
China dominates the market in the region due to increasing construction
activities coupled with rising awareness apropos benefits of construction
chemicals, urbanization, increasing residential and commercial setups.