Grace Licenses UNIPOL® PP Process Technology to Canada Kuwait Petrochemical Corporation in Alberta, Canada
July 27 2017 - 4:05AM
W. R. Grace & Co. ("Grace") (NYSE:GRA), the world's leading
supplier of polyolefin catalyst technology and polypropylene ("PP")
process technology, has contracted to license its UNIPOL® PP
Process Technology to Canada Kuwait Petrochemical Corporation
("CKPC"), a 50/50 joint venture between Pembina Pipeline
Corporation (TSX:PPL) (NYSE:PBA) of Canada and Petrochemical
Industries Company K.S.C. of Kuwait. The new installation will be
part of CKPC's proposed integrated propane dehydrogenation/PP
facility located in Sturgeon County, Alberta. If built, the PP line
would be the world's largest single train, capable of producing
550,000 metric tons per year of PP, including homopolymer, random
copolymer, and impact copolymer thermoplastic resins.
This is Grace's 16th new UNIPOL® PP technology license since
2012 and its second in Canada. Grace's all gas-phase UNIPOL® PP
Process Technology provides the most advanced and broadest range of
homopolymers, random copolymers, and impact copolymers in the
industry. As the simplest of all PP process technologies, with
fewer moving parts and less equipment than any alternative, its
reliable, stable, and predictable operation leads to lower capital,
operating, and maintenance costs.
CKPC's Chairperson Hosnia Hashim, said, "We selected Grace's
UNIPOL® PP Process Technology because of its demonstrated success
worldwide. It offers a broad product capability in large volume,
general purpose PP products, as well as specialty products."
Al Beninati, President of Grace's Specialty Catalysts business
segment, said: "Grace is proud to have been selected for this
significant contract with CKPC. Our industry-leading process
technology and catalysts technologies combine to provide our
customer unparalleled flexibility to deliver the resins that are in
highest demand."
Visit Grace's website for more information about Grace
polyolefin catalysts and process technology.
About Grace's UNIPOL® PP Process
Technology
Grace is the leading supplier of polyolefin catalyst technology
and has the broadest portfolio of polyolefin catalyst technologies
of any independent polyethylene/polypropylene catalyst
producer. Grace is an industry leader in offering UNIPOL® PP
Process Technology, 6th Generation non-phthalate CONSISTA®
catalysts and donors, and UNIPOL UNIPPAC® Process Control
software.
About Grace
Built on talent, technology, and trust, Grace is a leading
global supplier of catalysts and engineered materials. The
company’s two industry-leading business segments—Catalysts
Technologies and Materials Technologies—provide innovative
products, technologies, and services that enhance the products and
processes of our customer partners around the world. With
approximately 3,700 employees, Grace operates and/or sells to
customers in over 60 countries. More information about Grace is
available at grace.com.
UNIPOL® and UNIPOL UNIPPAC® are trademarks of The Dow Chemical
Company or an affiliated company of Dow. W. R. Grace &
Co.-Conn. and/or its affiliates are licensed to use the UNIPOL® and
UNIPOL UNIPPAC® trademarks in the area of polypropylene.
About CKPC
CKPC is in the front-end engineering design (FEED) phase of
developing a world-scale integrated propane dehydrogenation and
polypropylene upgrading facility. The project being developed by
CKPC remains subject to a positive final investment decision from
each partner of the joint venture, as well as regulatory and
environmental approvals.
This announcement contains forward-looking statements, that is,
information related to future, not past, events. Such statements
generally include the words “believes,” “plans,” “intends,”
“targets,” “will,” “expects,” “suggests,” “anticipates,” “outlook,”
“continues,” or similar expressions. Forward-looking statements
include, without limitation, expected financial positions; results
of operations; cash flows; financing plans; business strategy;
operating plans; capital and other expenditures; competitive
positions; growth opportunities for existing products; benefits
from new technology and cost reduction initiatives, plans and
objectives; and markets for securities. For these statements, Grace
claims the protection of the safe harbor for forward-looking
statements contained in Section 27A of the Securities Act and
Section 21E of the Exchange Act. Like other businesses, Grace is
subject to risks and uncertainties that could cause its actual
results to differ materially from its projections or that could
cause other forward-looking statements to prove incorrect. Factors
that could cause actual results to materially differ from those
contained in the forward-looking statements include, without
limitation: risks related to foreign operations, especially in
emerging regions; the cost and availability of raw materials and
energy; the effectiveness of its research and development and
growth investments; acquisitions and divestitures of assets and
gains and losses from dispositions; developments affecting Grace’s
outstanding indebtedness; developments affecting Grace's funded and
unfunded pension obligations; its legal and environmental
proceedings; uncertainties related to the company’s ability to
realize the anticipated benefits of the separation transaction; the
inability to establish or maintain certain business relationships
and relationships with customers and suppliers or the inability to
retain key personnel during the period following the separation
transaction; costs of compliance with environmental regulation; and
those additional factors set forth in Grace's most recent Annual
Report on Form 10-K, quarterly report on Form 10-Q and current
reports on Form 8-K, which have been filed with the Securities and
Exchange Commission and are readily available on the Internet at
www.sec.gov. Reported results should not be considered as an
indication of future performance. Readers are cautioned not to
place undue reliance on Grace's projections and forward-looking
statements, which speak only as the date thereof. Grace undertakes
no obligation to publicly release any revision to the projections
and forward-looking statements contained in this announcement, or
to update them to reflect events or circumstances occurring after
the date of this announcement.
Media Relations
Rich Badmington
T +1 410.531.4370
rich.badmington@grace.com
Investor Relations
Tania Almond
T +1 410.531.4590
tania.almond@grace.com
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