W. R. Grace & Co. (GRA) announced that it has closed the sale of two product lines in separate transactions during September 2009. Total cash proceeds from the two transactions was about $27 million.
Grace expects to report a total pre-tax gain from the two transactions of about $22 million in its third quarter ending September 30, 2009.
Grace sold the membranes product line, a component of Grace Davison's Specialty Technologies product group, to a strategic buyer for approximately $22 million.
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