BATON ROUGE, La., July 13, 2015 /PRNewswire/ -- Albemarle
Corporation (NYSE: ALB), a premier specialty chemicals
company and leader in the production of Lithium and Lithium
compounds, announced its intent to transfer production of
n-Butyllithium from its facility in New
Johnsonville, Tennessee, to existing plants in Germany and Taiwan. The transfer process
is expected to be completed during the first quarter of 2016.
"With this action, we are reducing redundancies in our global
operations, while maintaining a strategic network of manufacturing
facilities to ensure continued security of supply," stated
Raphael Crawford, vice president of
Albemarle's Synthesis and Polymer Solutions division. "Our
resulting operational savings are critical to maintaining our
leadership position in the Lithium market."
"Due to global shifts in demand for n-Butyllithium, our assets
in Germany and Taiwan are more strategically located to
support our future growth in this industry," stated Michael Wilson, president of Albemarle's
Performance Chemicals business unit. "Rationalization of our
New Johnsonville capacity supports
our stated intent to capitalize on synergies resulting from our
recent acquisition of Rockwood Holdings, Inc. The combination of
the Albemarle and Rockwood Lithium organometallics platforms has
made us a clear leader in high value metal alkyls for synthesis,
polymer and electronics markets, and we will continue to focus on
serving our customers and controlling costs to maintain that
leadership."
While production of n-Butyllithium will be transferred to
Germany and Taiwan, the New
Johnsonville facility will continue to manufacture some
specialty lithium products and will support blending operations for
customers in North America.
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