• News

01/30/2008

Grace Opens New Office in Dubai



W. R. Grace & Co. (Grace), a world-leading international specialty chemicals and materials company (NYSE:GRA), is celebrating the official grand opening of a new regional head office in Dubai, United Arab Emirates today. The festivities include a ribbon cutting ceremony, site tours and remarks from local officials and members of Grace's global leadership team.

Chairman and CEO Fred Festa remarked, "The Middle East offers significant opportunities in construction and refining technologies as the region continues to grow at a rapid yet sustainable rate. Our understanding of the region and its specific requirements is incredibly deep, and this further commitment underlines the importance we place on the region. We look forward to more closely supporting our local customers and exploring future opportunities together."

Maurice Ghattas, Vice President of Grace Middle East, added, "Grace has a strong, long term and rapidly growing client base in the region, and the opening of a new regional headquarters in Dubai signifies a new phase in investment in the Gulf Cooperation Council countries and the broader Middle East region. Our strengthened presence in the region is aimed at meeting increasingly sophisticated requirements for construction and refining technologies in this region at a time of unprecedented development in both sectors."

The new office houses employees from multiple Grace product lines and provides a central resource for customers in the region.

Grace has operated in the region since 1983, when the company began to manufacture, market, and sell chemical products to the construction industry through a joint venture. More recently, Grace expanded its manufacturing capacity through an investment in the Kuwait Catalyst Company (KCC), under which KCC manufactures residuum hydroprocessing catalysts for Advanced Refining Technologies (ART), Grace's joint venture with the Chevron Products Company. Residuum hydroprocessing catalysts help refiners produce environmentally friendly, cleaner-burning transportation fuels by removing sulfur and other contaminants from petroleum.

In addition to this office, Grace operates a manufacturing facility at the Jebel Ali Free Zone, a major business hub in Dubai. The facility produces specialty construction chemicals, including concrete admixtures and cement additives. The facility is currently being expanded to increase output of those materials and to add masonry products, fireproofing, waterproofing materials and systems. Collectively, these products help make homes and buildings stronger, safer and more comfortable. In total, Grace has 80 employees in Dubai.

Source: W. R. Grace & Co.




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