Grace Announces Business Segment Presidents and Elects New Officers
COLUMBIA, Md.--(BUSINESS WIRE)--Feb. 8, 2012--
W. R. Grace & Co. (NYSE: GRA) announced today a realignment of its
business into three operating segments: Grace Catalysts Technologies,
Grace Materials Technologies and Grace Construction Products.
Reporting to Grace’s President and Chief Operating Officer Gregory
Poling will be:
Shawn Abrams, President of Grace Catalysts Technologies. Abrams most
recently served as Vice President, Refining Technologies within the
former Grace Davison operating segment. The new Grace Catalysts
Technologies segment includes catalysts and related technologies used in
refining, petrochemical and other chemical manufacturing applications.
2011 revenues for this segment were approximately $1.4 billion. Grace’s
Advanced Refining Technologies joint venture is managed in this segment.
Joanne Green, President of Grace Materials Technologies. Green most
recently served as Vice President, Discovery Sciences within the former
Grace Davison operating segment. The new Grace Materials Technologies
segment includes engineered materials, coatings and sealants used in
consumer, industrial, packaging and pharmaceutical applications. 2011
revenues for this segment were approximately $800 million.
Andrew Bonham, President of Grace Construction Products. Bonham
continues in his current role. Grace Construction Products includes
specialty construction chemicals and specialty building materials used
in commercial, infrastructure and residential construction. 2011
revenues for this segment were approximately $1.0 billion.
“This new business segment structure allows us to align our segments
more closely with our markets and to pursue operational efficiencies and
reduce overhead costs,” said Chairman and Chief Executive Officer Fred
Festa. “We are excited about the opportunities that lie ahead, and are
as committed as ever to supporting and anticipating the needs of our
Grace will report its financial results using the new operating
structure beginning in 2012.
Also, the Grace Board of Directors elected Bill Dockman and Elyse Filon
officers of the corporation.
Bill Dockman, Vice President, Controller and Chief Accounting Officer,
has served as a Vice President and in other senior finance and
accounting roles at Grace for more than ten years.
Elyse Filon, Vice President and Treasurer, has served as a Vice
President and in other senior tax and treasury roles at Grace for more
than ten years.
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 2011 net sales of $3.2
billion. More information about Grace is available at www.grace.com.
Source: W. R. Grace & Co.
W. R. Grace & Co.
Greg Euston, +1
Mark Sutherland, +1 410-531-4590