CHARLOTTE, N.C., April 3, 2018 /PRNewswire/ -- Albemarle
Corporation (NYSE: ALB), a leader in the global specialty chemicals
industry, announced today the successful completion of the
previously announced sale of its polyolefin catalysts and
components business to W. R. Grace & Co. (NYSE: GRA) in a cash
transaction valued at approximately $416
million. The proceeds are subject to typical post-closing
adjustments. The organometallics and curatives portions of the
Performance Catalysts Solutions business remain with Albemarle.
"We are pleased this transaction completed as expected," said
Eric Norris, Albemarle Chief Strategy Officer. "This sale
supports our ongoing commitment to maintaining a business portfolio
that is in the best interest of our shareholders. We appreciate the
contributions that the global polyolefin catalysts and components
team has made to Albemarle over
the years and we look forward to continuing our industry-leading
efforts across our global businesses in lithium, catalysts and
bromine specialties."
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.
Forward-Looking Statements
Some of the information
presented in this press release, including, without limitation,
statements with respect to plans or objectives concerning our
global businesses, and all other information relating to matters
that are not historical facts may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. There can be no assurance that actual results
will not differ materially. Factors that could cause actual results
to differ materially include, without limitation, adverse changes
in the industries in which we operate and the other factors
detailed from time to time in the reports Albemarle files with the Securities and
Exchange Commission, including those described in Albemarle's Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q. These forward-looking statements
speak only as of the date of this communication. Albemarle expressly disclaims any obligation
or undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
Albemarle's expectations with
regard thereto or any change in events, conditions or circumstances
on which any such statement is based.
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SOURCE Albemarle Corporation