CHARLOTTE, N.C., April 3, 2018 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today the successful completion of the previously announced sale of its polyolefin catalysts and components business to W. R. Grace & Co. (NYSE: GRA) in a cash transaction valued at approximately $416 million. The proceeds are subject to typical post-closing adjustments. The organometallics and curatives portions of the Performance Catalysts Solutions business remain with Albemarle.
"We are pleased this transaction completed as expected," said Eric Norris, Albemarle Chief Strategy Officer. "This sale supports our ongoing commitment to maintaining a business portfolio that is in the best interest of our shareholders. We appreciate the contributions that the global polyolefin catalysts and components team has made to Albemarle over the years and we look forward to continuing our industry-leading efforts across our global businesses in lithium, catalysts and bromine specialties."
Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC, is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-added, customized solutions that make them more competitive. Our solutions combine the finest technology and ingredients with the knowledge and know-how of our highly experienced and talented team of operators, scientists and engineers.
Discovering and implementing new and better performance-based sustainable solutions is what motivates all of us. We think beyond business-as-usual to drive innovations that create lasting value. Albemarle employs approximately 5,400 people and serves customers in approximately 100 countries. We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
Some of the information presented in this press release, including, without limitation, statements with respect to plans or objectives concerning our global businesses, and all other information relating to matters that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ materially. Factors that could cause actual results to differ materially include, without limitation, adverse changes in the industries in which we operate and the other factors detailed from time to time in the reports Albemarle files with the Securities and Exchange Commission, including those described in Albemarle's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this communication. Albemarle expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Albemarle's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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SOURCE Albemarle Corporation
Media Contact: Susan Richardson, (980) 299-5672, Susan.Richardson@albemarle.com; Investor Relations Contact: Eric W. Norris, (980) 299-5518, Eric.Norris@albemarle.com