BATON ROUGE, La., May 19, 2016 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, proudly announced today that the company has received two prestigious awards in the category of liquidity management.
Treasury & Risk, a leading publication dedicated to providing perspective on the trends, best practices and tools defining the future of finance and treasury, has named Albemarle, along with Google and Hilton Worldwide, a 2015 Alexander Hamilton Award winner in the category of liquidity management. The company's treasury department received this award in recognition of their successful design and implementation of a robust global liquidity structure following the acquisition of Rockwood Holdings, Inc., an effort that facilitated the efficient repatriation of cash to repay debt and support the ongoing growth and operational needs of the combined companies.
Additionally in 2015, Albemarle was the recipient of the TMI Star Award for liquidity management in association with BNP Paribas, presented by Treasury Management International (TMI) at the EuroFinance Conference held in Miami. TMI is a highly respected publication dedicated to promoting best practices and innovations in treasury management. This award specifically recognized the company's innovative redesign of its liquidity structure prior to the acquisition, and the efficient connection it allowed to the liquidity structure of Rockwood following the acquisition in January 2015.
Jennifer Winkle, Albemarle's director of corporate finance (formerly assistant treasurer), was on hand to receive both of these coveted awards and expressed appreciation, stating: "Overall, our liquidity project has been a flagship project for the group and the wider industry; we were honored to be recognized for these achievements."
"We are thrilled to receive two of the profession's highest awards in recognition of our world class liquidity structure," said Lorin Crenshaw, vice president finance, lithium and advanced materials (formerly treasurer). "The structure has enabled us to efficiently commence our deleveraging strategy, and will serve us well into the future."
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a premier specialty chemicals company with leading positions in attractive end markets around the world. With a broad customer reach and diverse end markets, Albemarle develops, manufactures and markets technologically advanced and high value added products, including lithium and lithium compounds, bromine and bromine derivatives, catalysts and surface treatment chemistries used in a wide range of applications including consumer electronics, flame retardants, metal processing, plastics, contemporary and alternative transportation vehicles, refining, pharmaceuticals, agriculture, construction and custom chemistry services. Albemarle is focused on delivering differentiated, performance-based technologies that deliver innovative and sustainable solutions to its customers. The Company employs approximately 6,900 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 it serves.
"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