BATON ROUGE, La., July 13, 2015 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a premier specialty chemicals company and leader in the production of Lithium and Lithium compounds, announced its intent to transfer production of n-Butyllithium from its facility in New Johnsonville, Tennessee, to existing plants in Germany and Taiwan. The transfer process is expected to be completed during the first quarter of 2016.
"With this action, we are reducing redundancies in our global operations, while maintaining a strategic network of manufacturing facilities to ensure continued security of supply," stated Raphael Crawford, vice president of Albemarle's Synthesis and Polymer Solutions division. "Our resulting operational savings are critical to maintaining our leadership position in the Lithium market."
"Due to global shifts in demand for n-Butyllithium, our assets in Germany and Taiwan are more strategically located to support our future growth in this industry," stated Michael Wilson, president of Albemarle's Performance Chemicals business unit. "Rationalization of our New Johnsonville capacity supports our stated intent to capitalize on synergies resulting from our recent acquisition of Rockwood Holdings, Inc. The combination of the Albemarle and Rockwood Lithium organometallics platforms has made us a clear leader in high value metal alkyls for synthesis, polymer and electronics markets, and we will continue to focus on serving our customers and controlling costs to maintain that leadership."
While production of n-Butyllithium will be transferred to Germany and Taiwan, the New Johnsonville facility will continue to manufacture some specialty lithium products and will support blending operations for customers in North America.
About Albemarle 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.
SOURCE Albemarle Corporation