Grace begins manufacturing packaging materials in Russia. 1995 J. Peter Grace, company chairman, business leader and philanthropist dies at age 82. Grace acquires Cormix Construction Chemicals, expanding market penetration in the United Kingdom, Middle East and Asia Pacific. Grace expands container products operations into Russia. Grace builds its first packaging and silica products plant in Malaysia.
Grace expands construction products business into India and Vietnam.
1997 Grace significantly improves its capital structure by completing a stock repurchase that returns 28 million shares of Grace common stock to the Company treasury. Grace announces plans to merger its Cryovac packaging business with Sealed Air Corporation in a tax-free transaction. The new Grace emerges as a global specialty chemicals company, focusing on catalysts and silica products, specialty construction chemicals and building materials, and container protection products. Paul Norris becomes Chairman. Grace relocates its corporate headquarters to Columbia, Maryland.