Tag Archives: Grace Co

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Grace Announces Preliminary 2013 First Quarter Earnings; Updates 2013 Earnings Outlook

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By Business Wirevia The Motley Fool

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Grace Announces Preliminary 2013 First Quarter Earnings; Updates 2013 Earnings Outlook

COLUMBIA, Md.–(BUSINESS WIRE)– W. R. Grace & Co. (NYS: GRA) announced preliminary 2013 first quarter net income of $52 million to $53 million, or $0.68 to $0.69 per diluted share. Preliminary Adjusted EBIT is $104 million to $105 million and preliminary Adjusted EPS is $0.80 to $0.81 per diluted share.

2013 First Quarter

Preliminary segment operating income of the Grace Catalysts Technologies business segment is approximately $77 million. Preliminary sales for Catalysts Technologies are approximately $266 million. Preliminary segment gross margin is approximately 40 percent and preliminary segment operating margin is approximately 29 percent.

Catalysts Technologies‘ preliminary sales and earnings are below company expectations primarily due to the loss of expected sales at four large customers from customer operational issues and customer inventory reductions (approximately $7 million in earnings) and the delay of expected sales at five large customers, primarily of our ART joint venture (approximately $5 million in earnings).

Preliminary segment operating income for the Grace Materials Technologies and Grace Construction Products business segments increased more than 10 percent compared with the prior-year quarter, in line with company expectations.

As previously disclosed in Grace’s 2012 Form 10-K, the Venezuelan government changed the official exchange rate of the bolivar to the U.S. dollar from 4.3 to 6.3 during the first quarter. As a result, Grace recorded a currency transaction loss of approximately $8 million before taxes in its 2013 first quarter earnings, of which approximately $2 million is included in Adjusted EBIT.

2013 Outlook

As of April 10, 2013, Grace expects 2013 Adjusted EBIT to be in the range of $540 million to $560 million, an increase of 4 to 8 percent compared with 2012 Adjusted EBIT of $517.4 million. The company expects 2013 Adjusted EBITDA to be in the range of $665 million to $685 million.

European economic conditions are weaker than expected, affecting the sales growth of all three business segments. In addition, this update anticipates lower sales volumes in Catalysts Technologies as the business transitions to new refinery catalyst pricing as announced March 13, 2013. These price increases are necessary to support Grace’s continued investments in product technology, technical services, and manufacturing capacity in this business. Refining catalyst …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Grace Acquires Waterproofing Technology and Capacity in Australia

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By Business Wirevia The Motley Fool

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Grace Acquires Waterproofing Technology and Capacity in Australia

COLUMBIA, Md.–(BUSINESS WIRE)– W. R. Grace & Co. (NYS: GRA) announced the acquisition of Chemind Construction Products, a privately-held specialty manufacturer and distributor of waterproofing coatings technologies and materials for the design and construction industry. Chemind (pronounced kĕm’-eened) is headquartered and conducts R&D and manufacturing operations in Brisbane, australia. Terms were not disclosed.

The acquisition will become part of Grace Construction Products (GCP), a leading global provider of construction chemicals and building materials that enhance the durability, strength and appearance of structures all over the world. In 2012, GCP posted sales of $1.0 billion.

Chemind adds new waterproofing technology to Grace’s global Construction Products portfolio and establishes the company’s first waterproofing R&D and manufacturing facility in australia. The new site will produce waterproofing materials for repair, maintenance and improvement markets as well as for new construction.

Chemind formulates and manufactures specialty, high performance waterproof coatings that protect and preserve as well as improve the integrity, performance, and life of commercial, residential, and civil structures. Chemind also distributes a broad range of waterproofing coatings and materials, including Grace’s own waterproofing solutions, throughout australia.

“Chemind’s products are highly complementary to Grace’s waterproofing product and technology portfolio,” said Adam Grose, Vice President and General Manager, Asia, Grace Construction Products. “This acquisition is consistent with our strategy to expand our waterproofing business globally.”

About Grace

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 enhance the quality of life. Grace employs approximately 6,300 people in over 40 countries and had 2012 net sales of $3.16 billion. More information about Grace is available at www.grace.com.

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 http://www.grace.com.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Grace Announces Release Date for First Quarter 2013 Results

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By Business Wirevia The Motley Fool

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Grace Announces Release Date for First Quarter 2013 Results

COLUMBIA, Md.–(BUSINESS WIRE)– W. R. Grace & Co. (NYS: GRA) announced today that it will release its first quarter 2013 financial results at 6:00 a.m. ET on Wednesday, April 24, 2013. A company-hosted conference call and webcast will follow at 11:00 a.m. ET that day.

During the call, Fred Festa, Chairman and Chief Executive Officer, and Hudson La Force, Senior Vice President and Chief Financial Officer, will discuss the first quarter results and provide commentary on business performance. A question and answer session with analysts will follow the prepared remarks.

Access to the live webcast and the accompanying slides will be available through the Investor Information section of the company’s web site, www.grace.com. Those without access to the Internet can participate by dialing +1 877.299.4454 (U.S.) or +1 617.597.5447 (International). The participant passcode is 60991616. Investors are advised to dial into the call at least ten minutes early in order to register.

An audio replay will be available at 1:00 p.m. ET on April 24. The replay will be accessible by dialing +1 888.286.8010 (U.S.) or +1 617.801.6888 (International) and entering the participant passcode 29840878. The replay will be available for one week.

About Grace

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 enhance the quality of life. Grace employs approximately 6,000 people in over 40 countries and had 2012 net sales of $3.2 billion. More information about Grace is available at www.grace.com.

W. R. Grace & Co.
Media Relations
Rich Badmington, +1 410-531-4370
rich.badmington@grace.com
or
Investor Relations
Mark Sutherland, +1 410-531-4590
mark.sutherland@grace.com

KEYWORDS:   United States  North America  Maryland

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Grace Catalysts Technologies Announces Price Increase

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By Business Wirevia The Motley Fool

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Grace Catalysts Technologies Announces Price Increase

COLUMBIA, Md.–(BUSINESS WIRE)– Grace Catalysts Technologies, an operating segment of W. R. Grace & Co. (NYS: GRA) announced today pricing and market related actions in its Refining Technologies business. Grace is discontinuing the rare earth surcharge pricing mechanism it instituted in 2010 in response to the high volatility in the costs of various rare earths used in Grace’s FCC catalysts and additives. Rare earth costs have stabilized in the past six months and the company believes the surcharge mechanism is no longer appropriate. Grace will reset the base price for FCC catalysts and additives to reflect current rare earth costs, and then raise those base prices for FCC catalysts and additives 10 percent, as contract terms allow.

The price increases are necessary due to significant investments made in the businesses over the past few years and to support continued investment in R&D, technical services, and planned capital investments.

About Grace

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 enhance the quality of life. Grace employs approximately 6,300 people in over 40 countries and had 2012 net sales of $3.16 billion. More information about Grace is available at www.grace.com.

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, all statements regarding Grace’s Chapter 11 case; expected financial positions; results of operations; cash flows; financing plans; business strategy; budgets; 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 the Private Securities Litigation Reform Act of 1995. 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: developments affecting Grace’s bankruptcy, propose plan of reorganization and settlements with certain …read more
Source: FULL ARTICLE at DailyFinance