Grace to retain medical program for Libby hospital
Makes additional donation to St. John’s Hospital
by W.R. Grace media release
April 8, 2008
W. R. Grace & Co. (NYSE:GRA) today (April 8, 2008) announced that it plans to retain the Medical Program it established in 2000 to assist local residents with medical needs resulting from their exposure to asbestos from the former Grace mine located near the town of Libby, Montana.
"In talking to people in Montana last night, there seemed to be confusion about our medical program," said William M. Corcoran, Vice President. "When we saw some of the comments in the press today, we were surprised. We have made it clear for many years that we intend to sustain the health care program when we emerge from Chapter 11 just as we did when we went into bankruptcy."
The Libby Medical Program has been in effect since 2000. More than 800 people are currently enrolled in it and receive health care and prescription drug coverage. Since 2000, Grace has spent more than $14 million on the program.
In addition, Grace is making an additional annual contribution of $250,000 to St. John's Lutheran Hospital in Libby, Montana. Since 2000, Grace has donated more than $2 million to St. John's to support its work on this important issue.
"St. John's is an outstanding health care institution with top notch health care staff," said Corcoran. "We are pleased that our donations have been used to help purchase state-of-the-art health care equipment and technology for the people of Libby, Montana."
Grace is a leading global supplier of catalysts and other products to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide-range of industrial applications; sealants and coatings for food and beverage packaging, and specialty chemicals, additives and building materials for commercial and residential construction. With annual sales of more than $3.1 billion, Grace has about 6,500 employees and operations in over 40 countries. For more information, visit Grace's web site at www.grace.com.
SOURCE: W. R. Grace & Co.
For more information: W. R. Grace & Co. Media Relations: William Corcoran, 410-531-4203, william.corcoran@grace.com
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