Albemarle completes sale of French facility

02 January 2009 13:57  [Source: ICIS news]

TORONTO (ICIS news)--Albermarle has completed the sale of its facility in Port de Bouc, France, to Azur Chimie, a wholly-owned affiliate of International Chemical Investors Group (ICIG), the US specialty chemicals and catalysts producer said on Friday.

Azur Chimie would toll manufacture certain products for Albemarle, it said.

"This strategic divestiture will position us to better focus on our core business initiatives," said vice president of Albemarle's fine chemicals segment Ron Gardner.

As a result of the sale, Albemarle expected to incur a pre-tax charge of $25-30m (€18-21m) in the fourth quarter of 2008, it said without disclosing additional financial details.

The Port de Bouc plant, near Marseille, employs approximately 180 people and produces a wide variety of bromine fine chemicals and intermediates.

Frankfurt-based ICIG is described as a privately-held investment company focused on mid-sized chemicals businesses.

($1 = €0.71)

For more on Albemarle visit ICIS company intelligence
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By: Stefan Baumgarten
+1 713 525 2653

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