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Albemarle Sells Facility in Teesport, UK

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Aug 3 2010

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Albemarle Corporation (NYSE: ALB), a global developer and manufacturer of innovative fine chemicals and sustainable clean energy solutions, announced today that on July 30, 2010, the company sold its Teesport, UK facility to Kemira Oyj (HSE: KEM).  Terms of the agreement were not disclosed.

"This transaction is another step in Albemarle's previously announced restructuring efforts, and we're pleased to finalize the sale," said Luke Kissam, President of Albemarle.

The Teesport facility currently produces emulsifiers and intermediates for the drilling fluids industry.  Albemarle's completion fluids business is not a part of this sale.  The company will continue to produce its bromine-based completion fluids in Jordan and the U.S. to service the global oil field market.

Source:

http://www.albemarle.com/

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