COLUMBIA, MD -- Grace China Ltd., a subsidiary of W. R. Grace & Co. (NYSE: GRA), has signed a Memorandum of Understanding with Maryland Center China, establishing a partnership for sharing market intelligence and promoting business development.
The partnership allows Grace to strengthen its presence in China by sharing resources with the State of Maryland China Office and other Maryland organizations. "Joining efforts with such a reputable organization leverages Grace's 20 year-long history of investing in China by increasing growth opportunities," said James Healy, president of Grace China Ltd. Maryland Center China, strategically located in Shanghai and Beijing, will support Grace through outreach activities, organization of conferences and training initiatives, as well as offering government and public relations, business facilitation and marketing consulting services. At the same time, Grace will promote the center and become a valuable source of product development information.
Grace operates four manufacturing facilities, four sales offices and four technical service centers in China (including Hong Kong.) There are more than 225 employees at the 12 locations. Grace became the first wholly foreign-owned enterprise allowed to conduct business in the country in 1986.
Maryland Center China was created in 1996 to develop commercial relationships between Maryland and China and represent the State of Maryland's interest in the expanding Chinese market. Over the years, the center has established relationships and promoted cooperation with China's national and provincial authorities, assisting Maryland companies to expand into China, and Chinese companies to establish their presence in Maryland.
Grace is a leading global supplier of catalysts and other products and services to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide-range of industrial applications; specialty chemicals, additives and materials for commercial and residential construction; and can sealants and coatings for food packaging. With annual sales of more than $2.5 billion, Grace has employees in nearly 40 countries.
