W. R. Grace & Co. has signed an agreement to acquire the
assets of Noblestar Catalysts, a China-based manufacturer of
fluid catalytic cracking (FCC) catalysts.
Located in Qingdao, China, Noblestar also produces catalyst
intermediates and related products used in the petroleum refining industry.
the investment were not disclosed.
In order to complete the purchase, Grace established a new
wholly foreign-owned enterprise (WFOE) in China.
This acquisition provides Grace with immediate, local
manufacturing capacity to better serve our refining customers within China and
North Asia, said Shawn Abrams, president of Grace
Investing in China is a part of our overall refining technologies global
strategy, which includes creating an integrated manufacturing
network to align FCC capacity with demand growth.
Grace said it expects to make additional investments at the
Qingdao site for environmental, safety and manufacturing
This acquisition deal is a strategic disposition and
repositioning of Noblestar, said Chao Cui, CEO of
With the closing of the deal, Noblestar is able to
focus its business on rare earth products. We have been happy
and proud to be a business partner of Grace for years and are
expecting to continue such a good relationship much longer as a
The transaction has been approved by the boards of directors
of both companies, but is subject to the satisfaction of other
Grace said it anticipates completing the deal as soon as
regulatory clearances have been obtained.