Grace Acquires International Protective Coatings; Broadens Fire Protection Offerings with Firestop Products & Systems
COLUMBIA, Md., March 27 /PRNewswire/ -- W. R. Grace & Co. (NYSE: GRA) has
acquired International Protective Coatings Corp. (IPC), a manufacturer of
firestop products and systems. IPC, with sales of $8 million and headquarters
in Middletown, New Jersey, will be integrated into Grace's Performance
Chemicals business unit based in Cambridge, Massachusetts.
Grace's existing fireproofing products are primarily designed to protect
the integrity of steel structures during a fire; firestops are designed to
compartmentalize and contain fire and smoke from spreading through walls and
between floors within a building.
"The acquisition of IPC broadens our offering of fire protection solutions
to our customers and provides Grace with an excellent opportunity to capture
additional growth in fire protection products," said Paul J. Norris, Grace
Chairman, President and Chief Executive Officer. "IPC is the third 'bolt-on'
acquisition that Grace has made in the last three months, which together
represent an important part of the growth strategy that we initiated last
This new technology platform, coupled with Grace's world-class
consultative sales force -- known for leadership in delivering fireproofing
solutions -- strengthens Grace's global position in specialty building
"This acquisition is consistent with our strategy to provide comprehensive
fireproofing solutions to the marketplace," said Robert Bettacchi, President
of Grace's Performance Chemicals unit. "It also provides Grace access to a
larger customer base for its innovative specialty products. As both new and
retrofit projects in commercial and residential construction continue to
demand more from their suppliers, we'll be ready and able to exceed those
Grace is a leading global supplier of catalysts and silica products,
specialty construction chemicals and building materials, and container
protection products. With annual sales of approximately $1.5 billion, Grace
has over 6,000 employees and operations in nearly 40 countries.
SOURCE W.R. Grace & Co.
CONTACT: Media Relations: Hal Platzkere, 410-531-4514; or
Investor Relations: Francine Gilbert, 410-531-4167; both of W.R.
Grace & Co.
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