GRACE RECEIVES BUSINESS HEADQUARTERS AWARD FROM SINGAPORE ECONOMIC DEVELOPMENT BOARD
SINGAPORE, March 31, 1999 -- W. R. Grace & Co. today announced that its Singapore subsidiary, W. R. Grace (Singapore) Pte. Ltd., has been awarded the Business Headquarters incentive by the Singapore Economic Development Board. The award was given to Grace for selecting Singapore as the base for critical business and support functions in the region.
Accepting the award at this morning's ceremony, Dr Richard Williams, Vice President and General Manager, Asia Pacific, for Grace's Darex Container Products business commented, "We want to thank our customers in the Asia Pacific region for their support, and this award demonstrates our continued commitment to the region. Singapore, with its conducive economic environment and highly skilled and professional work force, is an excellent location from which we drive sales for the region and manage many of our customer service support functions."
Grace Singapore, with about 70 employees, is the location for senior regional management staff who oversee the development and growth of several Grace businesses for Asia Pacific, which covers 14 countries from India to Southeast and East Asia, and on to Australia and New Zealand. Regional finance, human resource and information technology functions are also based in Singapore to support Grace's catalysts and silicas, construction chemicals and sealants and coatings businesses in the entire region. Among its many manufacturing facilities throughout the region, its Singapore waterproofing plant is the central facility for the supply of waterproofing membranes for Asia and Australia. The Singapore logistics team also handles the distribution of silica products from Grace's Kuantan, Malaysia plant to customers throughout the region.
Singapore also became the regional centre for technical service support to cement and concrete products customers with the opening of a new technical centre in Jurong in September 1998. This technical centre, built at a cost of US $2 million, is one of the most advanced facilities of its kind in the region. Its lab and testing facilities provide solutions to customer needs, carries out product development work to adapt products to the region's conditions, and conducts regional seminars for key customers on new concrete technologies and product applications.
Grace will continue to invest in its people and technology to deliver the best value to customers in the region. It expects to continue to expand into the region from its support base in Singapore.
Grace is a leading global supplier of catalysts and silica products, specialty construction chemicals and building materials, and container sealants and closure systems. With annual sales of approximately US $1.5 billion, Grace has 6,600 employees and operations in nearly 40 countries.