BATON ROUGE, La., May 4, 2016 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the development, manufacture and marketing of flame retardants announced today that it is discontinuing production of its hexabromocyclododecane (HBCD)-based flame retardants so that it can focus on supplying GreenCrest® polymeric fire safety solutions, a sustainable alternative to HBCD. GreenCrest, which is based on technology licensed from Dow Global Technologies LLC, is commercially available in both powder and compacted grades for use in expanded (EPS) and extruded (XPS) polystyrene foam applications. Albemarle first began supplying commercial quantities of GreenCrest to the market in Q1 2013.
"We are leveraging our unique expertise in compaction technology and our technical service capabilities to transition our customers to GreenCrest, which is a more sustainable alternative," said Troy DeSoto, Vice President of Bromine Specialties Product Management. "Our extensive experience in the EPS and XPS industry and our established global distribution network will ensure this transition is seamless and that we can continue to meet customer demand in both the near and long term."
The company will continue to support its HBCD customers in accordance with all contractual obligations.
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 and its Quarterly Reports on Form 10-Q.