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Stock Market & Financial Investment News

News Breaks
January 24, 2013
18:03 EDTGRAW.R. Grace to record $365M pre-tax charge in Q4
W.R. Grace & Co. said it will record a smaller-than-expected $365M pre-tax charge in the Q4 related to the specialty chemical company's increased asbestos-related liability. The company said the charge is lower than its November estimates of $375M-$475M and it will have no impact on adjusted earnings. The company is looking to emerge from a bankruptcy process that began in 2001, driven by fear of an onslaught of claims for injuries due to W.R. Grace-made asbestos projects. W.R. Grace said Thursday it is adjusting its recorded asbestos-related liability to $2.07B-$1.7B. The company has noted that the adjustment is necessary to reflect increased estimates of the settlement values of the warrant and deferred payment obligation payable to the asbestos personal injury trust under Grace's reorganization plan. W.R. Grace currently estimates the warrant's value to be $490M, the maximum value under the company's settlement agreement with the asbestos trust. The settlement was approved by the bankruptcy court last month. It estimates the deferred payment obligation's value to be $547 million. The company said the increase in estimated value reflects its improved borrowing costs and expected timing of bankruptcy emergence.
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September 9, 2014
06:57 EDTGRAW.R. Grace sees 2014-2018 sales growth 1.5X GDP
Sees 2014-2018 sales growth 1.5X GDP, 2X GDP in growth products. Sees gross margin 38%-40%. Sees adjusted EBIT growth 8%-10% per year, adjusted free cash flow >$400M per year. Sees expected share repurchase 1%-5% per year from 2014-2018. Sees adjusted EBIT ROIC >30%. Comments from slides that will be presented at the KeyBanc Basic Materials & Packaging Conference.
September 8, 2014
07:21 EDTGRAKeyBanc to hold a conference
2014 Basic Materials & Packaging Conference to be held in Boston on September 8-10.
September 3, 2014
08:05 EDTGRAW.R. Grace raises prices for silica products worldwide by 7%
W. R. Grace announced that effective October 6, prices for silica-based and molecular sieve products produced in its Engineered Materials business will increase 7% or as contracts allow. Affected will be prices for silica gel, colloidal silica, precipitated silica, and adsorbent products, including the SYLOID, SHIELDEX, SYLOWHITE, SYLODENT, SYLOBLOC, DARACLAR, TRISYL, LUDOX, PERKASIL, PHONOSORB, SYLOBEAD, and SYLOSIV brands.

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