Albemarle reconfirms commitment to enter market with GreenCrest™ fire safety product
BATON ROUGE, La., July 9, 2014 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the development, manufacture and marketing of flame retardants, announced today that it reconfirms its commitment to enter the market with commercial quantities of GreenCrest, a polymeric fire safety solution based on technology licensed from Dow Global Technologies LLC, a subsidiary of The Dow Chemical Company, for use in expanded (EPS) and extruded (XPS) polystyrene foam applications.
As previously announced, the company's intent is to commercialize GreenCrest and to support customers as they transition from hexabromocyclododecane (HBCD) to GreenCrest, a sustainable polymeric product of choice, before the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) sunset date in 2015.
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.
SOURCE Albemarle Corporation