BATON ROUGE, La., Dec. 6, 2012 /PRNewswire/ -- Albemarle
Corporation (NYSE : ALB) has announced plans to expand its
Orangeburg, SC manufacturing
operations to support growing demand for products in all three of
its global business units and the manufacture of a new line of
sustainable fire safety solutions. The $65 million investment over the next 5 years is
expected to add 20 jobs to support the expansion.
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"We would like to thank the local community leaders for granting
Albemarle a license to operate in Orangeburg. The dedication
of our employees and the support for our operations here made
Orangeburg the logical choice for
these growth projects," said Luke
Kissam, Albemarle's Chief Executive Officer.
The expansion will occur between 2012 – 2016 and will add
facilities to manufacture two new products in the company's Fine
Chemistry Services business; GreenCrest™,
the company's latest addition to its
Earthwise™ portfolio of eco-friendly fire
safety solutions in the Polymer Solutions business; and expansion
of its organometallic production unit to support the growing
Polymer Catalysts business.
Albemarle proceeding with the expansion project is subject to
final approval by the Orangeburg County Council. The third
and final reading related to the project is expected to occur on
December 17th.
About Albemarle
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.
SOURCE Albemarle Corporation