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Grace Completes Phase 1 of First Fluid Catalytic Cracking (FCC) Catalysts Manufacturing Plant in Middle East
  • USA - English


News provided by

W.R. Grace & Co.

Apr 22, 2015, 03:00 ET

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Officials from W. R. Grace & Co.  and Joint Venture Partner Al Dahra Agriculture commission completion of Phase 1 construction for first FCC catalysts manufacturing facility in Middle East.
Officials from W. R. Grace & Co. and Joint Venture Partner Al Dahra Agriculture commission completion of Phase 1 construction for first FCC catalysts manufacturing facility in Middle East.

Abu Dhabi, United Arab Emirates (PRWEB) April 22, 2015 -- W. R. Grace & Co. Chairman and Chief Executive Officer Fred Festa (second from left) was joined by representatives of Joint Venture partner Al Dahra Agriculture as well as Grace employees and contractors in late March. The visit marked the commissioning of a new catalyst logistics silo terminal and the end of Phase 1 of construction for the first fluid catalytic cracking (FCC) catalysts manufacturing facility in the Middle East. Phase 2, detailed engineering, is underway, with operations expected to begin in 2018. The approximately $150 million facility, located in the Kizad Industrial Zone approximately 70 km outside Abu Dhabi, will serve refineries throughout the Middle East and potentially other regions.

Please visit grace.com to download a hi-res version of the photo.

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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 spin-off or cause the spin-off 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 spin-off; 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 http://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.

Greg Ten Eyck, W.R. Grace & Co., http://grace.com, +1 410.531.4460, [email protected]

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