Grace Completes Acquisition of FCC Assets of Shida Excellence

On November 29th, Grace announced the completion of the acquisition of assets for the catalytic cracking (FCC) catalyst production operated by Shida Excellence Technology Co., Ltd. (hereinafter referred to as Shida Excellence).

Shida Excellence is a local manufacturer of FCC catalysts, catalyst intermediates and other related products for the refining industry in Qingdao. Grace is a global leader in FCC catalysts.

"The successful acquisition of Shida's outstanding assets is another milestone for Grace in China. And this is an important step in our strategy, we will provide the world's top products and services for the refining industry," Grace President and CEO Fred Festa said "Our goal is to provide customers with innovative technology and industry-leading technical services from Grace, and we also hope to establish a global production network to meet the needs of the world." Grace will invest in Qingdao production base. Environmental, safety and production upgrades.

Founded in 1986, Grace China Ltd. is the first wholly foreign-owned enterprise to conduct business in China. Its canned sealing factory is located in Shanghai, China. Currently in China, including Grace's Asia Pacific Asia Pacific headquarters in Shanghai, Grace has five manufacturing plants, three sales offices and two technical service centers in mainland China.

(This article is contributed by Grace)

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