Albemarle to increase price of fluid catalytic cracking (FCC) catalysts
BATON ROUGE, La., April 10, 2013 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in the production and servicing of catalytic refinery solutions, announced today that it will increase global prices of its line of FCC catalysts by approximately $350/MT effective immediately, or as contracts allow. This price increase will enable Albemarle's Heavy Oil Upgrading business to continue its focus on product quality, innovation and services.
Heavy Oil Upgrading is a business segment of Albemarle's new Refinery Catalyst Solutions group, a division of the company's Catalysts global business unit. The business manufactures a robust portfolio of catalysts and additives used in fluid catalytic cracking, resid upgrading, and delayed coking.
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 Chemistry. Corporate Responsibility Magazine selected Albemarle to its prestigious "100 Best Corporate Citizens" list for 2010 and 2011. Albemarle employs approximately 4,300 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