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GRACE ANNOUNCES AGREEMENT TO SELL HOMCO

 BOCA RATON, Fla., Jan. 28 /PRNewswire/ -- W. R. Grace & Co. (NYSE: BRA) today announced the signing of a definitive agreement to sell the worldwide operations of Homco International, Inc. to Weatherford International Incorporated (AMEX: WII) for a cash purchase price of $97.5 million and the assumption of certain liabilities. Grace expects the transaction, which is subject to various conditions, to close by late March or early April 1993.
 In commenting on this transaction, J. P. Bolduc, Grace president and chief executive officer, said: "The divestment of this Homco unit of Grace Energy is a continuation of Grace's strategy to exit from its energy businesses."
 Homco, based in Houston, offers specialized oil field services and products with annual revenues of more than $120 million.
 Grace is the world's largest specialty chemicals company with a leadership position in health care.
 -0- 1/28/93
 /CONTACT: Chuck Suits if W. R. Grace, 407-362-2600 or 800-GRACE99/
 (GRA WII)


CO: W. R. Grace & Co.; Homco International, Inc.; Weatherford
 International Incorporated ST: Florida, Texas IN: CHM OIL SU:


JB-AW -- FL006 -- 0090 01/28/93 09:19 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 28, 1993
Words:182
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