Grace buys aquatic quimica to boost water treatment stake
How W.R. Grace (Boca Raton, FL) president and newly appointed CEO J.P. Bolduc plans to expand Grace's core businesses following his drastic portfolio pruning during the past 18 months is a key question for Grace watchers. Grace's acquisition of $70-million/year water treatment firm Aquatec Quimica (Sao Paulo) is one indicator. Grace's $300-million/year Dearborn water treatment business is currently a weak number three [in the world market], and we want to be number one or number two, nothing less, Bolduc insists. The Aquatc buy meets his criterion of a synergistic and strategic acquisition with which he plans to expand the business, backed by more focused R D. Disposal last month of Homco oil field services operation, for $98.5 million, takes Bolduc toward his $500-million target for the year for asset sales. These totaled $1.1 billion at the end of 1992. The final tally will be more than the $1.5-billion target previously stated, Bolduc says, due to higher realizations on certain sales and additions to the list, including Grace Culinary and Colowyo Coal.
- OSTI ID:
- 6696812
- Journal Information:
- Chemical Week; (United States), Vol. 152:6; ISSN 0009-272X
- Country of Publication:
- United States
- Language:
- English
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