Albemarle sells French facility to International Chemical Investors Group's subsidiary

16-Jan-09

Albemarle Chemicals SAS, a wholly owned subsidiary of Albemarle Corporation has sold its Port de Bouc-based facility in France to Azur Chimie SAS, a wholly owned affiliate of International Chemical Investors Group (ICIG). As per the deal, Albemarle has transferred to Azur Chimie all equipment, buildings, land and certain other assets at the Port de Bouc, France plant and the latter will toll manufacture certain products for Albemarle. As a result of the sale, Albemarle expects to incur a pre-tax charge of approximately US$25 to US$30 mln in the Q4 - 2008. Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer and marketer of highly engineered specialty chemicals for various markets. ICIG is a privately held investment company focusing on mid-sized chemicals businesses.