Albemarle Announces the Sale of Its Teesport, UK Facility to Kemira

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Aug 02, 2010, 08:00 ET

BATON ROUGE, La., August 2, 2010 /PRNewswire-FirstCall/ -- Albemarle Corporation (NYSE: ALB), a global developer and manufacturer of innovative fine chemicals and sustainable clean energy solutions, announced today that on July 30, 2010, the company sold its Teesport, UK facility to Kemira Oyj (HSE: KEM). Terms of the agreement were not disclosed.

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"This transaction is another step in Albemarle's previously announced restructuring efforts, and we're pleased to finalize the sale," said Luke Kissam, President of Albemarle.

The Teesport facility currently produces emulsifiers and intermediates for the drilling fluids industry. Albemarle's completion fluids business is not a part of this sale. The company will continue to produce its bromine-based completion fluids in Jordan and the U.S. to service the global oil field market.

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. Corporate Responsibility Magazine recently selected Albemarle to its prestigious "100 Best Corporate Citizens" list for 2010. 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