Albemarle to Increase Price of Elemental Bromine and Hydrobromic Acid

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Mar 01, 2010, 09:00 ET

BATON ROUGE, La., March 1 /PRNewswire-FirstCall/ -- Leading specialty chemicals maker Albemarle Corporation (NYSE: ALB) announced today that it will increase its global prices for elemental bromine by $500/mt and all grades of hydrobromic acid by $250/mt. The price increases will take effect April 1, 2010, or as contracts allow.

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The markets that consume these products have shown renewed strength. In addition, there are new, high growth applications which are beginning to consume large quantities of bromine and bromine derivatives. These price increases will help justify investments to meet increasing demand, and ensure a sustainable future for these important chemicals.

Albemarle's bromine and hydrobromic acid are part of the company's performance chemicals division in the Fine Chemicals business segment.

About Albemarle

Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer, and marketer of highly-engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services. The Company is committed to global sustainability and is advancing its eco-practices and solutions in its three business segments, Polymer Solutions, Catalysts, and Fine Chemicals. Albemarle employs approximately 4,000 people and serves customers in approximately 100 countries. To learn more, visit www.albemarle.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.

SOURCE Albemarle Corporation