BATON ROUGE, La., Nov. 5, 2015 /PRNewswire/ -- Albemarle
Corporation (NYSE: ALB), a leading manufacturer of
highly-engineered specialty chemicals, announced today that it has
signed a definitive agreement to sell its Tribotecc metal sulfides
business to Treibacher Industrie AG, an international leading
player in the chemistry and metallurgy sectors. Included in the
transaction are sites in Vienna
and Arnoldstein, Austria and
Tribotecc's proprietary sulfide synthesis process.
Albemarle's president and CEO Luke
Kissam said, "This transaction furthers Albemarle's
strategic plan of focusing on our core bromine, lithium, catalysts
and surface treatment businesses. This sale represents the
optimal choice to maximize shareholder value for Albemarle while
positioning Tribotecc to extend its track record of industry
leadership, excellent customer service, and success going
forward. I expect the strong foundation built by the
Tribotecc team will enable continued success under new
ownership."
"Today's announcement is another step in Treibacher's business
development and continues our growth strategy," CFO Rainer Schmidtmayer said in a statement. "The
acquisition of a global leading manufacturer of metal sulfides,
located here in Carinthia, aligns with our long-term strategy to be
an Austrian based innovative leader in high performance materials,
providing high-quality products for differentiated markets
worldwide."
The sale is subject to customary closing conditions and is
expected to close by the end of 2015. Financial terms of the
transaction were not disclosed.
BofA Merrill Lynch is acting as exclusive financial advisor to
Albemarle in connection with this transaction.
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.
About Treibacher Industrie AG
Treibacher Industrie AG,
a privately owned enterprise, is an international company with over
100 years of experience in chemistry and metallurgy. At its
headquarters in Althofen (Austria)
and sites in Toronto (Canada), Shanghai (China), and Tokyo (Japan), Breitungen (Germany), Treibacher Industrie AG develops and
manufactures ferro alloys for the steel and foundry industries,
powders for the carbide industry, materials for high
performance ceramics as well as fine chemicals and
special alloys.
Treibacher employs approximately 780 people and is selling its
products through its worldwide sales network in about 60
countries.
For further information please visit Treibacher's website:
www.treibacher.com
"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.
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SOURCE Albemarle Corporation