Albemarle Begins Earthworks at Kemerton Project, Remains On-Target in Western Australia Expansions

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Jan 02, 2019, 06:30 ET

CHARLOTTE, N.C., Jan. 2, 2019 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that it has begun earthworks at the Kemerton Strategic Industrial Area, in Western Australia, for the construction of the company's Kemerton lithium hydroxide (LiOH) conversion site.

Albemarle recently received the required environmental approval from the Australian federal and state government for the Kemerton plant.

"The site earthworks at Kemerton today are on track with our projections," said Eric Norris, Albemarle President, Lithium. "Achieving this milestone underscores our commitment and confidence in developing LiOH operations in Western Australia and in our overall strategy to drive significant shareholder value and meet our customers' demands."

As previously disclosed, the Kemerton plant would have an initial capacity of 60,000 metric tons of LiOH with an ability to expand to 100,000 metric tons over time. The commissioning of the Kemerton site is expected to start in stages during the course of 2021.

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, information related to expected capacity and commissioning timelines , 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. Actual results could differ materially from the views expressed. Factors that could cause actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; changes in priorities, financial and operating performance of our major customers and industries and markets served by us; the gain or loss of significant customers; competition from other manufacturers; changes in the demand for our products or the end-user markets in which our products are sold; unforeseen construction or engineering delays or complications and the other factors detailed from time to time in the reports we file with the SEC, including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

SOURCE Albemarle Corporation