Grose Named President, Specialty Construction Chemicals for GCP Applied Technologies Inc; GCP is the Planned Spin-off of Grace Construction Products and Darex Packaging
COLUMBIA, MD. (PRWEB) December 21, 2015 -- W. R. Grace & Co. (NYSE: GRA) announced today that Adam Grose has been named President, Specialty Construction Chemicals of GCP Applied Technologies Inc. (GCP), the Cambridge, MA-based public company to be formed by the planned spin-off in early 2016 of Grace’s Construction Products segment and its Darex Packaging Technologies business.
Grose will lead GCP's Specialty Construction Chemicals (SCC) business, which provides products, technologies, and services to the concrete and cement markets globally. These products are specified by architects and engineers and are used by contractors, ready mix, precast and block producers, and cement manufacturers to enhance the durability, strength, and appearance of building and infrastructure projects.
Grose served for three years as Vice President and General Manager of Grace’s Construction Products operations in Asia, and, since 2013, was Vice President and General Manager of the company’s Discovery Sciences business. He has held senior leadership positions with Thermo Fisher Scientific, Invensys Controls (Schneider Electric), and General Electric.
"Leading the cement and concrete products business is essential to maintaining our leadership in these sectors and to achieving our growth goals," said Gregory E. Poling, GCP's designated President and Chief Executive Officer. "Grose has a proven ability to lead global teams, introduce new products, and create opportunities in new geographic markets. We're delighted to have Adam with GCP Applied Technologies."
GCP Applied Technologies will have customers in more than 110 countries, operations on six continents, and a team of 2,500 employees. Through applied knowledge and service excellence, GCP Applied Technologies will provide premier specialty construction chemicals and specialty building materials for many of the world’s most renowned structures, and packaging technologies for the best-known consumer brands.
About Grace
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.
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This news release 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 and the Company claim the protection of the safe harbor for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Like other businesses, GCP 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: the cyclical and seasonal nature of the industries GCP serves; the effectiveness of GCP's research and development and new product introductions; the cost and availability of raw materials and energy; foreign operations, especially in emerging regions; changes in currency exchange rates; developments affecting the Company’s outstanding liquidity and indebtedness, including debt covenants and interest rate exposure; developments affecting the Company’s funded and unfunded pension obligations; acquisitions and divestitures of assets and gains and losses from dispositions; warranty and product liability claims; hazardous materials and costs of environmental compliance; the separation, such as: uncertainties that may delay or negatively impact the separation and distribution or cause the separation and distribution to not occur at all, the Company’s lack of history as a public company and the costs of the separation, the Company’s ability to realize the anticipated benefits of the separation and distribution, and the value of GCP common stock following the separation; and those additional factors set forth in this news release and W. R. Grace & Co.’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.
Greg Teneyck, W.R. Grace & Co., +1 (410) 531-4460, [email protected]
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