GRACE COMPLETES WATERPROOFING ACQUISITION
CAMBRIDGE, Mass. & HEIST-OP-DEN-BERG, Belgium, Jul 05, 2011 (BUSINESS WIRE) -- Grace Construction Products, an operating segment of W. R. Grace & Co. (NYSE: GRA), announced today that it has acquired the De Neef Conchem Group, a privately-owned group of companies that develop waterproofing products for the construction industry. Financial terms of the transaction were not disclosed.
De Neef Conchem produces preventative and remedial waterproofing products and concrete protection and repair products. These products are manufactured in Belgium, Spain and the United States and are sold throughout the world. Headquartered in Belgium, De Neef Conchem has been in business for more than 30 years and has over 100 employees.
"De Neef Conchem's product lines complement Grace's structural waterproofing and building envelope portfolio by adding a variety of new technologies. The acquisition places us in an excellent position to offer increased value to our customers," said Andrew Bonham, President of Grace Construction Products.
This acquisition is part of Grace Construction Products' ongoing growth strategy focused on acquiring companies in high margin segments of the construction industry, opening new manufacturing facilities in emerging regions, and entering into alliances with partners that can accelerate the extension of the Grace brand into new markets.
In addition to this transaction, Grace recently acquired Wuhan Meilixin New Building Materials Co., Ltd., a manufacturer of waterproofing products located in China. The company has also opened seven manufacturing sites in emerging regions since 2010.
"Our investment in De Neef Conchem improves our global waterproofing position and supports our strategy to expand into new market segments with highly innovative products for the industry," added Jens Ebinghaus, Vice President and General Manager - Europe, Middle East, Africa and India for Grace Construction Products.
About Grace Construction Products
Grace Construction Products is a world-leading provider of construction chemicals and building materials that are used to enhance the durability, strength and appearance of structures all over the world. Products include concrete admixtures, fibers, surface treatments and liquid pigments, additives for cement processing, and fire protection, waterproofing and masonry products. More information is available online at www.graceconstruction.com.
Grace is a leading global supplier of catalysts and other products to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide range of industrial applications; sealants and coatings for food and beverage packaging, and specialty chemicals, additives and building materials for commercial and residential construction. Founded in 1854, Grace has operations in over 40 countries. For more information, visit Grace's website at www.grace.com.