W.R. Grace & Co has split its Grace Davision business into two operating segments, a move the specialty-chemical company said would help it align more closely with its markets and reduce overhead costs.
The split creates two new segments titled Grace Catalysts Technologies and Grace Materials Technologies. The company also has a construction-products segment, whose customers include cement and concrete producers.??Grace said the new catalysts business focuses on the technologies used in refining, petrochemical and other chemical manufacturing applications.
The materials business will cover engineered materials, coatings and sealants used by in industrial, pharmaceutical and other markets. ??Grace will report its financial results using the new operating structure beginning this year. The company earlier this month reported its fourth-quarter profit jumped 29% as higher prices helped preserve top-line growth and blunt the impact of weaker sales volume in the latter half of the year.