Albemarle Corp. has signed a definitive agreement to sell its polyolefin catalysts and components business to W. R. Grace & Co. in a cash transaction valued at approximately $416 million. The organometallics and curatives portions of the Performance Catalysts Solutions business will remain with Albemarle. As part of the transaction, Grace will assume the lease and operations at the Product Development Center in Baton Rouge, Louisiana, and operations at the Yeosu, South Korea, site.

The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close during the first quarter of 2018.

For more information, visit www.albemarle.com or www.grace.com.