W. R. Grace Bags New UNIPOL Technology Client
On April 24, W. R. Grace (GRA) announced that it would be licensing its UNIPOL PP Process Technology to Inter Pipeline to be used in its Heartland Petrochemical complex in Alberta, Canada
May 1 2018, Published 10:53 a.m. ET
W. R. Grace bags new order
On April 24, W. R. Grace (GRA) announced that it would be licensing its UNIPOL PP Process Technology to Inter Pipeline to be used in its Heartland Petrochemical complex in Alberta, Canada. The pipeline is expected to be in service by 2021. W.R. Grace did not specify the financial aspects of the deal, its second so far in 2018.
W. R. Grace president of specialty catalysts Al Beninati said, “Grace is excited to partner with Inter Pipeline, as they are strongly committed to delivering value to their customers. Combined with our non-phthalate CONSISTA catalysts, the UNIPOL PP Process Technology will help the Heartland Petrochemical Complex operate at very high levels of productivity and product quality.”
Stock update
GRA stock rose 3.2% last week and closed at $69.09 on April 27, outperforming the iShares US Basic Materials ETF (IYM), which fell 2.1%. GRA is now trading 1.1% above its 100-day moving average price of $68.32. Year-to-date, GRA has fallen 2.5%. However, analysts project an upside for GRA and have recommended a target price of $81.70, which implies a return potential of 18.3% based on its April 26 closing price as of April 26. IYM also had exposure to DowDupont (DWDP), Monsanto (MON), and Praxair (PX), of 22.4%, 8.2%, and 6.7%, respectively, as of April 26.
