W. R. Grace & Co. (GRA) announced that it completed the sale of a 5% interest in Advanced Refining Technologies LLC, a joint venture with Chevron Products Co, on November 30, 2009. As a result of the transaction, Grace expects to record a gain of approximately $5 million.
Grace has reduced its 55% interest to 50% to achieve a balanced ownership structure. Grace and Chevron have also amended certain agreements governing Grace's supply of catalyst to the joint venture and the related funding of capital spending in support of the joint venture.
Grace intends to deconsolidate Advanced Refining Technologies' results of operations, cash flows and financial position from its consolidated financial statements on a prospective basis effective December 1, 2009.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.