"The life cycle for most specialty chemicals is only three or four years."

It makes specialty chemicals for industrial and commercial water treatment.

In 1977, specialty chemicals accounted for about 90 percent of sales.

Today, those products, along with other specialty chemicals, represent more than half of sales.

The division, which had sales of about $160 million last year, makes specialty industrial chemicals.

Grace had wanted to concentrate on its specialty chemicals business.

That is because demand for some specialty chemicals has little to do with the level of industrial production.

The company, which makes specialty chemical and petroleum products, has annual sales of more than $1.6 billion.

One is specialty chemicals, and that's a very fine business because the profit margins are great.

Grace has said since last year that it will slim its focus to specialty chemicals and health care.