On Nov. 18, 2010, W. R. Grace & Co. announced it had completed its acquisition of Albany-based Synthetech, a manufacturer of fine chemicals, at a price of $1.163286 per share. On Oct. 18, 2010, Grace received approval from the U.S. Bankruptcy Court for the District of Delaware of its merger with Synthetech.

Synthetech, one of the oldest companies in Oregon, was founded in 1981 by Paul Ahrens who served as President and CEO of the company from 1989-1995, and VP of Technology from 1981-1989.