CHARLOTTE, N.C., June 20, 2018 /PRNewswire/ -- Albemarle
Corporation (NYSE: ALB), a leader in the global specialty chemicals
industry, announced that it has signed a Heads of Agreement in the
field of heavy feedstock hydrocracking for the company's catalysts
business unit.
Sinopec Catalyst Co. Ltd. (SCC), Sinopec Fushun Research
Institute of Petroleum and Petrochemicals (FRIPP), and Albemarle's catalysts business are combining
strengths by cooperating in the field of catalytic hydrocracking.
The cooperation will be worldwide and on a non-exclusive basis.
Albemarle, SCC and FRIPP will combine forces to be the
supplier of choice for supplying hydrocracking pre-treat and
hydrocracking catalysts and expertise.
"We are pleased to strengthen our position in hydrocracking by
this Heads of Agreement with SCC and FRIPP," said Silvio Ghyoot,
Albemarle's President, Catalysts.
"We look forward to developing this Heads of Agreement further
towards a productive business cooperation from which a number of
customers around the globe will benefit."
Mr. Gu Songyuan, President of Sinopec Catalyst Co., stated,
"Albemarle is a trusted catalyst
supplier in the industry which is why we pursued a partnership with
them. Together, we will offer the global refining industry
strong profitable solutions for heavy feedstock hydrocracking by
combining solid hydrotreating and hydrocracking expertise."
Mr. Fang Xiangchen, President of Sinopec Fushun Research
Institute of Petroleum and Petrochemicals, added, "Combining
FRIPP's hydrocracking pilot plant expertise, references and
application knowledge with Albemarle's hydrotreating know-how will lead
to great added value propositions for refiners, enhancing their
profitability in a significant way."
About Albemarle
Albemarle Corporation (NYSE:
ALB), headquartered in Charlotte,
NC, is a global specialty chemicals company with leading
positions in lithium, bromine and refining catalysts. We power the
potential of companies in many of the world's largest and most
critical industries, from energy and communications to
transportation and electronics. Working side-by-side with our
customers, we develop value-added, customized solutions that make
them more competitive. Our solutions combine the finest technology
and ingredients with the knowledge and know-how of our highly
experienced and talented team of operators, scientists and
engineers.
Discovering and implementing new and better performance-based
sustainable solutions is what motivates all of us. We think beyond
business-as-usual to drive innovations that create lasting value.
Albemarle employs approximately
5,400 people and serves customers in approximately 100 countries.
We regularly post information to www.albemarle.com, including
notification of events, news, financial performance, investor
presentations and webcasts, non-GAAP reconciliations, SEC filings
and other information regarding our company, its businesses and the
markets it serves.
Sinopec Catalyst Company
Sinopec Catalyst Co., Ltd.
(SCC), a wholly-owned subsidiary of SINOPEC, is one of the world's
biggest manufacturers, suppliers, and service providers for oil
refining and chemical catalysts. With the support of Sinopec group
which possesses industrial facilities of various technology
resources, SCC improves its core strength to offer one-stop
solution to different problems from the industrial facilities
operation.
SCC produces oil refining catalysts, polyolefin catalysts,
catalysts for basic organic raw materials, coal chemical catalysts,
environmental protection catalysts, additives, and absorbents.
SCC pursues the business philosophy of Premium Catalyst Quality,
Excellent Customer Care. To better serve our valued customers and
to provide a complete range of business and technical solutions,
Over 3,500 SCC employees safely and sustainably develop,
manufacture, support, and sell finest technology around
world. With its rich industry-leading experience and advanced
technologies, SCC stands ready to work hand-in-hand with you to
create a beautiful future of green catalysts. For more information,
please visit at http://scc.sinopec.com.
Sinopec Fushun Research Institute of Petroleum and
Petrochemicals
Sinopec Fushun (Dalian) Research Institute of Petroleum and
Petrochemicals is a research institute directly under SINOPEC.
Hydroprocessing is the core area of Fushun (Dalian) Research Institute of Petroleum and
Petrochemicals and its achievements and R&D capabilities rank
world leading edge. In particular, in hydrocracking, FRIPP has
developed high pressure hydrocracking, medium pressure
hydrocracking, mild hydrocracking, medium pressure hydroupgrading,
etc. and matched hydrocracking catalysts with more than 50 brands
in more than 10 categories.
Its main research areas are: clean refining technologies
focusing on clean production of gasoline and diesel, efficient
conversion of heavy oil, and development of high value-added
products; new energy technologies focusing on emerging energy
resources, biomass energy resources and the exploitation of
unconventional oil products; and utility technologies focusing on
water-related affairs, environmental protection, equipment,
storage, transport, energy conservation, energy storage, and
intelligent power. It is an important support for upgrading oil
products and providing petrochemical and environmental protection
technologies.
Sinopec Fushun Research Institute of Petroleum and
Petrochemicals employs approximately 700 people and serves
customers in the world. Information is regularly posted to
http://fripp.sinopec.com/fripp/, Sinopec Fushun Research
Institute of Petroleum and Petrochemicals is always committed to
provide the customers with the up-to-date tailor-made technologies
and catalysts.
"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