Albemarle closes $22.5m acquisition of Sorbent

01 August 2008 13:43  [Source: ICIS news]

TORONTO (ICIS news)--US specialty chemicals producer Albemarle has completed the acquisition of Sorbent Technologies, a supplier of adsorbents and technologies to remove mercury from power plant and industrial emissions, paying about $22.5m (€14.4m), it said on Friday.

 

The all-cash deal closed on Thursday following Sorbent shareholder approval on 24 July.

 

Sorbent Technologies supplies specialty brominated carbon adsorbents and advanced injection systems to help control mercury emissions from coal-fired power plants, Albemarle said.

 

"Mercury removal from coal-fired power plant emissions is an important focus area for utilities, and Sorbent Technologies has been a pioneer in using bromine-based mercury-control solutions to meet this need," said Albemarle CEO Mark Rohr.

 

"Sorbent's proprietary and comprehensive technologies will broaden our current bromine offerings, and allow us to bring innovative, turnkey solutions to utilities and other bromine-based mercury solutions providers in the industry," he added.

 

($1 = €0.64)

 

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By: Stefan Baumgarten
+1 713 525 2653



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