W.R. Grace & Co expands presence in waterproofing products with Wuhan Meilixin acquisition
Construction chemicals and building materials group W.R. Grace & Co. (NYSE:GRA)(“Grace & Co”) has agreed to snap up Wuhan Meilixin New Building Materials (“Meilixin”) of Wuhan, China for an undisclosed sum.
Meilixin, which employs fifty employees, makes fit-for-use
waterproofing membranes, materials and compounds for protection against
water damage. The products are sold into both the Asian and
International markets.
Grace & Co’s VP and General Manager, Philip Krichilsky, said
the company saw the acquisition as an opportunity to increase its
distribution networks and manufacturing capabilities in China and other
emerging markets.
"This acquisition continues the series of strategic investments
we have made in international markets that positions us to capitalize on
emerging economies and global infrastructure spending growth," added
Andrew Bonham, President, Grace Construction Products.
"We are excited to welcome Meilixin to Grace, and we will
continue to identify similar opportunities to expand our footprint and
elevate our brand recognition."
The Meilixin business will be integrated into Grace Construction Products' Specialty Building Materials product group.
Grace Construction Products’ include concrete admixtures, fibers,
surface treatments and liquid pigments, additives for cement
processing, and fire protection, waterproofing and masonry products.
Founded in 1854, Grace has operations in over 40 countries.
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