IN BRIEF : Grace to Expand Chemical Business

W. R. Grace & Co., the leading U.S. maker of specialty chemicals, said today that it plans to sell minority stakes in its far-flung specialty units and energy holdings to generate funds to expand its profitable chemical business.

The New York-based company expects the sales to generate at least $300 million, a spokesman said. Grace’s specialty businesses include cocoa, specialty textiles and specialty agricultural activities.

Grace, which has sold $2 billion in assets in the last two years, said it is considering the partial sale of a minority interest in Grace Specialty Businesses and the sale of a minority stake in Grace Natural Resources Group.

Grace said it would use proceeds from these sales to support both its core specialty chemical business--which has high capital requirements--and its nonspecialty chemical business in a restructuring that hopes to boost 1989 profits.

Grace has been shedding businesses to improve profits and to thwart potential takeover attempts. The conglomerate focuses on specialty chemicals, natural resources, specialty businesses and chemicals.