BATON ROUGE, La., May 12, 2011 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) announced today that it will increase its global prices for elemental bromine to $4500/MT minimum delivered and its global prices for hydrobromic acid by a minimum of $650/MT.
These price increases will take effect immediately, or as contracts allow.
Demand for these products in traditional applications and markets has been very strong globally. To ensure a sustainable future for these important chemicals, Albemarle increased production capacities at its Magnolia, Arkansas facility and its joint venture facility, Jordan Bromine Company (JBC), during the past year and recently announced plans to double capacity at JBC.
Albemarle's bromine and hydrobromic acid products are part of the Company's Performance Chemicals division in the Fine Chemistry business segment.
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 4,000 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.