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W.R. Grace gets $27M for 2 product lines

W.R. Grace says it sold membrane and firestopping and abatement products for a total of $27M

  • On 12:28 pm EDT, Thursday October 1, 2009

COLUMMBIA, Md. (AP) -- Specialty chemicals company W. R. Grace & Co. said Thursday it sold two small product lines for a total of approximately $27 million.

The company said it completed the sale of its membrane product line and its firestopping and abatement product lines in September. The product lines brought in less than 1 percent of Grace's revenue, and the company said they were bought by separate buyers.

Grace said its third-quarter results will include a pretax gain of about $22 million from the sales.

The company said it was paid about $22 million for the membranes product line, which makes products used in natural gas separation. It received $5 million for the other products. Firestopping products are used to compartmentalizae fire and smoke inside a building, while the abatement products are used in the removal of asbestos and lead paint.

In morning trading, Grace shares fell 28 cents to $21.46.

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