W. R. Grace & Co. (Grace), through its subsidiaries, is a specialty chemicals and materials company. Grace operates in the following two business segments: Davison Chemicals (Davison), which involves the manufacturing of catalysts and silica-based products; and Performance Chemicals, which involves the production of specialty construction chemicals, specialty building materials and sealants, and coatings for packaging. On April 2, 2001, the Company and 61 of its United States subsidiaries and affiliates filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code (Chapter 11) in the United States Bankruptcy Court for the District of Delaware. Under Chapter 11, Grace is operating its businesses as debtor-in-possession under court protection from its creditors and claimants, while using the Chapter 11 process to develop and implement a plan for addressing the asbestos-related claims against it.