COLUMBIA, Md. — W. R. Grace & Co. recently completed its acquisition of the Fine Chemistry Services business (FCS) of Albemarle Corp. for approximately $570 million, including $300 million paid in cash and $270 million funded through the issuance to Albemarle of nonparticipating preferred equity of a newly created Grace subsidiary.

“This investment represents an important step forward in Grace’s growth strategy. FCS brings compelling innovation and manufacturing capabilities to our materials technologies business, enabling us to better serve our customers with high-value solutions that span every stage of their development cycle,” said Hudson La Force, president and CEO of Grace.

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