Corporation has acquired a controlling interest in its two antioxidant joint ventures
in China: Ningbo Jinhai Albemarle Chemical & Industry Co., Ltd. and Shanghai
Jinhai Albemarle Fine Chemicals Co., Ltd. Albemarle''s ownership interest increased
from 25 per cent to 75 per cent.
"Jinhai Albemarle" joint ventures specialize in the manufacture and
marketing of polymer antioxidants and associated intermediates, and currently
supply antioxidants to many Chinese petrochemical companies. Albemarle also will
use its global presence to increase exports from both joint venture plants to
the growing regional and global plastics marketplace.
strategic acquisition provides Albemarle deeper vertical integration in polymer
antioxidants and intermediates, and serves as a launching pad for continued growth
both inside and outside of China," said Scott Sutton, Albemarle Division
Vice President of Stabilizers and Curatives.
processors worldwide use Albemarle''s Ethanox and Ethaphos polymer antioxidants
to help maintain the performance integrity and processing stability of polyolefin
plastics, elastomers, adhesives and other materials. With a goal of being the
"One source for all your antioxidant needs,"(TM) Albemarle has built
a reputation for product quality, reliability and solid customer technical service.
Corporation, headquartered in Richmond, Virginia, is a leading global developer,
manufacturer and marketer of highly engineered specialty chemicals for petroleum
and petrochemical processing; transportation and industrial products; consumer
electronics; pharmaceuticals; agricultural products; and construction and packaging
company operates in three business segments, polymer additives, catalysts and
fine chemicals, and serves customers in approximately 100 countries.