Albemarle completes sale of antioxidant, ibuprofen and propofol businesses to SI Group

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Sep 02, 2014, 07:55 ET

BATON ROUGE, La., Sept. 2, 2014 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) today announced the successful completion of the previously announced sale of its antioxidant, ibuprofen and propofol businesses and related assets to SI Group, Inc. The transaction includes manufacturing sites in Orangeburg, South Carolina and Jinshan, China. Certain applications and technical support capabilities located in Shanghai, China and Baton Rouge, Louisiana were also included in the transaction. Financial terms of the transaction were not disclosed.

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 two global business units: Performance Chemicals and Catalyst Solutions. Corporate Responsibility Magazine selected Albemarle to its prestigious "100 Best Corporate Citizens" list for 2010, 2011 and 2013. Albemarle employs approximately 3,900 people and serves customers in approximately 100 countries. Albemarle regularly posts information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, Regulation G reconciliations, SEC filings, and other information regarding the Company, its businesses and the markets we serve.

"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.

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SOURCE Albemarle Corporation