Albemarle Corporation announces plans to expand its Orangeburg, SC facility
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3 Years : From Aug 2012 to Aug 2015
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.
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