Grace (NYSE: GRA) - Expose WR Grace - File Complaints, File Qui Tam Lawsuits, File RICO Lawsuits.
"W.R. Grace realigns into three business units
W.R. Grace & Co. is realigning its businesses into three units: one for chemical catalysts, one for industrial coatings and other engineered materials, and a third for construction materials.
Grace said the new alignment will help make the Columbia chemicals and building products maker more efficient and cut overhead costs “We are excited about the opportunities that lie ahead, and are as committed as ever to supporting and anticipating the needs of our customers,” Grace CEO Fred Festa said in a statement.
The new business strategy comes as Grace (NYSE: GRA) prepares to emerge from Chapter 11 bankruptcy protection. It cleared a pair of key hurdles in late January, when a U.S. District Court judge in Delaware approved the company’s bankruptcy reorganization plan.
The company has been in Chapter 11 since April 2001 amid a flood of asbestos-related claims.
Grace, on Wednesday, also announced the executives who will head up each of its three business units. Each will report directly to President Gregory Polling.
The executives and the units they run are:
Shawn Abrams, president of Grace Catalysts Technologies. The unit had 2011 revenue of $1.4 billion.
Joanne Green, president of Grace Materials Technologies ($800 million in 2011 revenue); and,
Andrew Bonham, president of Grace Construction Products, which had $1 billion in revenue in 2011."
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Don't forget the Insurance Companies, Medical Device Companies, Big Drug Companies that WR Grace is invested in (in bed with).