Grace Finalizes Split This Week

On Feb. 3, W.R. Grace will spin off GCP Applied Technologies as an independent company based in Cambridge, Mass., and listed on the New York Stock Exchange. Focused on construction products and packaging, GCP had $1.4 billion in sales for the 12 months ending Sept. 30. Grace remains as a $1.7 billion maker of process catalysts and specialty silicas. Speaking at an investor meeting last week in New York City, Fred Festa, chairman of W.R. Grace, told investors that the spin-off will create two simpler and more focused companies with good growth potential.