Sector News

Albemarle sells mineral flame retardants and specialty chemicals businesses to Huber

December 17, 2015
Chemical Value Chain

/PRNewswire/ – Albemarle Corporation announced today that it has signed a definitive agreement to sell its Mineral Flame Retardants and Specialty Chemicals businesses to Huber Engineered Materials, a division of J.M. Huber Corporation, a leading global manufacturer of flame retardant additives. The transaction includes Albemarle’s Martinswerk GmbH subsidiary and manufacturing facility located in Bergheim, Germany and Albemarle’s 50% ownership interest in MAGNIFIN Magnesiaprodukte GmbH, a joint-venture with RHI AG at Breitenau, Austria.

“We continue to execute our plan to sell non-strategic businesses and assets which will allow Albemarle to enhance our focus on growth opportunities within our core businesses,” said Albemarle’s president and CEO Luke Kissam. “This transaction supports our ongoing commitment to maximizing value for our shareholders and positions these businesses to extend their rich history of leadership and success.”

The acquisition is subject to customary closing conditions and is expected to close in early 2016.

BofA Merrill Lynch is acting as exclusive financial advisor to Albemarle in connection with this transaction.

Source: Albemarle

comments closed

Related News

September 17, 2022

Huhtamaki and Stora Enso collaborate on new paper cup recycling initiative

Chemical Value Chain

Huhtamaki and Stora Enso have joined forces to create a new paper cup recycling initiative, The Cup Collective. The programme aims to recycle and capture the value of used paper cups on an industrial scale. The programme will initially be implemented across Belgium, the Netherlands and Luxembourg.

September 17, 2022

Methanex announces new President & CEO effective January 1, 2023

Chemical Value Chain

The Board of Directors of Methanex Corporation announced that John Floren will retire as President and CEO and from the Board as of December 31, 2022. The Board has appointed Rich Sumner as President & Chief Executive Officer and member of the Board of Directors, effective January 1, 2023.

September 17, 2022

Evonik is driving growth through innovations, announces new CIO

Chemical Value Chain

Evonik’s new chief innovation officer, Ralph Marquardt, aims to strengthen the company’s innovative strength even further in the future. Marquardt, who has a doctorate in chemistry and joined Evonik in 2006, has acquired the necessary experience, for example, through leadership roles in various business areas. Sustainability is his central focus.