Talk:W. R. Grace and Company/Archives/2017

Assistance with Updating Company Information

Hello,

I work with the Communications group at W. R. Grace & Co. The company has recently experienced some significant changes which should be reflected in Wikipedia.

PART I. Under Intro Paragraph: W.R. Grace & Co. is a global, Columbia, Maryland, USA–based specialty chemical and materials public company. Grace is divided into two business segments—Grace Catalysts Technologies and Grace Materials Technologies Grace employs approximately 3,400 employees in nearly 30 countries[1] The company's stock, listed in 1953, trades on the New York Stock Exchange under the symbol GRA.[2]

Under "Segments and products"

On February 5, 2016, Grace announced plans to separate its business in order to improve its strategic focus, simplify its operating structure, and allow for more efficient capital allocation. On February 3, 2016, Grace separated into two publicly-traded companies; W. R. Grace & Co. (NYSE:GRA), and GCP Applied Technologies Inc. (NYSE:GCP). Grace continues to operate its Catalysts Technologies segment and its Materials Technologies segment, excluding its Darex Packaging Technologies business and remains headquartered in Columbia. GCP Applied Technologies (GCP) includes the Grace Construction Products segment and the Darex Packaging Technologies business and is headquartered in Cambridge, MA.

Segments and some of their products include: • Grace Catalysts Technologies [26] oRefining Catalysts oSpecialty Catalysts including polyolefin catalysts oHydroprocessing Catalysts (marketed under Advanced Refining Technologies, Grace’s Joint Venture with Chevron)

• Grace Materials Technologies [27] oEngineered Products, including a variety of silica-based products for consumer products ingredients and processing aids, and for industrial additives and processing aids oDiscovery Sciences, including fine chemicals and pharmaceutical manufacturing, as well as custom intermediates, excipients, and chromatography media

PART II. There have been updates to our asbestos settlement standing. We would like to propose the following updates within the existing text:

"Contamination Incidents and Bankruptcy

W.R. Grace & Co. has been involved in a number of controversial incidents of proven and alleged corporate crimes, including exposing workers and residents of an entire town to asbestos contamination in Libby[32] and Troy, Montana, water contamination (the basis of the book and film A Civil Action) in Woburn, Massachusetts, and an Acton, Massachusetts, Superfund site. These actions led to the company’s decision to file for Chapter 11 bankruptcy.

Asbestos

While Grace no longer makes asbestos-related products, W.R. Grace & Co. has faced more than 270,000 asbestos-related lawsuits stemming largely from chrysotile asbestos that Grace commercially purchased and added to some of its fire protection and plaster products.[33]

After asbestos injury claims unexpectedly nearly doubled in 2000, W.R. Grace & Company filed for bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware on April 2, 2001 to resolve the thousands of asbestos-related claims. During the course of the bankruptcy, the company was subject to the jurisdiction of the U.S. Bankruptcy Court. All transactions outside the ordinary course of business were subject to approval by the court. With the support of the court, the equity committee, and the creditors committees, the company continued to grow, invest, and develop its global business operations.

Separately, the United States Department of Justice alleged that Grace had transferred 4 to 5 billion dollars to daughter companies that it had recently purchased, shortly before declaring bankruptcy. Justice Department attorneys alleged that this amounted to a fraudulent transfer of money in order to protect Grace from civil suits related to asbestos. The bankruptcy court ordered the companies to return nearly $1 billion to Grace, which remained as part of the assets considered in the bankruptcy hearings.

Asbestos Claims Settlement Reached in 2008; Independent Trusts Created

In 2008, Grace reached a settlement of the personal injury claims with the Official Committee of Asbestos Personal Injury Claimants, the Future Claimants Representative, and the Official Committee of Equity Security Holders.

On September 19, 2008, Grace, with the other parties to the settlement now co-proponents, filed a Joint Plan of Reorganization, later amended, with the Bankruptcy Court, reflecting the terms of the settlement. Under the Joint Plan, all pending and future asbestos-related claims are channeled to two independent trusts established to compensate asbestos personal injury claimants and property owners. The Joint Plan also directed all allowed claims of non-asbestos creditors to be paid in full on the date of Grace’s emergence from Chapter 11.

On January 31, 2011, the Bankruptcy Court confirmed the Joint Plan and overruled all outstanding objections in favor of Grace and its co-proponents.

The Joint Plan next was considered for confirmation by the United States District Court for the District of Delaware. On January 31, 2012, the District Court denied all appeals and issued an order affirming the Joint Plan, which was reaffirmed on June 11, 2012 following a motion for reconsideration. By late 2013, all appeals of the Plan’s confirmation were resolved in Grace’s favor by the Third Circuit Court of Appeals or by mutual consent.

On February 3, 2014, the Joint Plan of Reorganization became effective, ending the Chapter 11 bankruptcy."

Baltimore Business Journal:

PART III. Accurate Grace corporate name, logo, and imagery.

All references to W. R. Grace should be changed to W. R. Grace & Co., which is the legal name of the company.

W. R. Grace & Co. has a new logo and tagline.

The image and description of an aluminum wheel (W.R. Grace & Co. 13 spoke 15"x8.5" aluminum wheel, OEM, 1978 Chevrolet K5 Blazer Cheyenne ) is not representative of Grace's core business now or in the past. Suggest deleting this.

12.159.169.4 (talk) 18:11, 15 June 2016 (UTC)Shelly DeButts, Senior Writer, Specialist, W. R. Grace & Co. shelly.debutts@grace.com