BATON ROUGE, La., July 8, 2015 /PRNewswire/ -- Albemarle
Corporation (NYSE: ALB), a premier specialty chemicals
company and leader in the production of lithium and lithium
compounds, announced today the commencement of commissioning
activities associated with its new, state-of-the-art lithium
carbonate production plant. The 20,000 MT plant, located at
Albemarle's La Negra site, near the port of Antofagasta in northern Chile, will enable the company to meet the
accelerating demand for lithium, especially high purity lithium
compounds required for the production of large format lithium ion
batteries.
The plant is on schedule to produce commercial quantities of
lithium carbonate during the third quarter of 2015. Albemarle
expects to increase production from the new capacity beginning
early in 2016. Initial production will be sold into technical
applications while more lengthy battery grade qualifications take
place.
The commissioning and planned startup of this new plant further
demonstrates Albemarle's commitment to meeting the demands of its
customers, offering a reliable and reputable supply of high quality
products and maintaining its position as a global leader in lithium
production.
Visiting Chile last week,
President and CEO Luke Kissam said,
"I am very proud of the work our team has done to construct and now
commission this state-of-the-art facility in Chile. The
company invested roughly $200 million
to ensure we have a reliable source of supply for our customers as
their demand for lithium, especially high purity lithium compounds,
increases. Today, we are beginning to see the results of that
hard work and investment, and I look forward to a bright future for
our business. I thank our employees and the people of
Chile for their support as we
continue to grow responsibly in the region."
About Albemarle
Albemarle Corporation, headquartered
in Baton Rouge, Louisiana, is a
premier specialty chemicals company with leading positions in
attractive end markets around the world. With a broad customer
reach and diverse end markets, Albemarle develops, manufactures and
markets technologically advanced and high value added products,
including lithium and lithium compounds, bromine and bromine
derivatives, catalysts and surface treatment chemistries used in a
wide range of applications including consumer electronics, flame
retardants, metal processing, plastics, contemporary and
alternative transportation vehicles, refining,
pharmaceuticals, agriculture, construction and custom chemistry
services. Albemarle is focused on delivering differentiated,
performance-based technologies that deliver innovative and
sustainable solutions to its customers. The Company employs
approximately 6,900 people and serves customers in approximately
100 countries. Albemarle regularly posts information to
www.albemarle.com, including notification of events, news,
financial performance, investor presentations and webcasts,
Regulation G reconciliations, SEC filings and other information
regarding the Company, its businesses and the markets it
serves.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995: Statements in this press release
regarding Albemarle Corporation's business that are not historical
facts are "forward-looking statements" that involve risks and
uncertainties. For a discussion of such risks and uncertainties,
which could cause actual results to differ from those contained in
the forward-looking statements, see "Risk Factors" in the Company's
Annual Report on Form 10-K and its Quarterly Reports on Form
10-Q.
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SOURCE Albemarle Corporation