W.R. Grace & Co. / GRA

About W.R. Grace & Co.

7500 Grace Dr., Columbia, Md. 21044
www.grace.com | 410-531-4000 | Founded: 1832

Industry: Manufacturing | Category: Top 100 Companies

The company continues to operate under bankruptcy protection for the sixth consecutive year as it tries to resolve thousands of personal-injury claims related to asbestos. It also is fighting criminal charges tied to a mining operation it once owned that exposed a small Montana town to asbestos decades ago. Meanwhile, W.R. Grace faces civil charges linked to its clean-up efforts at a now-defunct New Jersey plant that processed asbestos ore from that mine.
But company sales increased each of the past five years, reaching $2.6 billion in 2005, up from $1.7 billion when the company filed for Chapter 11 in 2001. Despite its legal troubles, W.R. Grace said its underlying business is strong and growing. Under the eye of the bankruptcy court, it has acquired about two dozen small firms in recent years, opened operations in China last year, and announced plans to launch a manufacturing plant in Tennessee this year that should boost its residential business, mostly moisture sealant products for roofs, decks and windows.
Under its reorganization plan, Grace has proposed a $1.6 billion trust fund to compensate asbestos victims.
In February, legislation that would have created a national trust fund for asbestos claims stalled in the Senate. Grace and other companies would have paid into the fund, which was intended to make their costs predictable and settle cases that have been in the courts for decades.

President and CEO: Fred Festa

2007 Financial Data

Total employees: 6,400 | Local employees: 1,400