Albemarle Completes Akzo Nobel Refinery Catalysts Acquisition

Albemarle Completes Akzo Nobel Refinery Catalysts Acquisition



RICHMOND, Va., Aug. 2  /PRNewswire-FirstCall/ -- Albemarle Corporation has
completed the acquisition of the catalyst business of Akzo Nobel N.V.  With
this acquisition, Albemarle becomes one of the world's largest producers of
hydro processing catalysts (HPC) and fluidized catalytic cracking (FCC)
catalysts used in the petroleum refining industry.  Including joint ventures
and Albemarle's current polyolefin catalyst business, the new Catalyst segment
is expected to generate sales of roughly $680 million on an annual basis.

Mark C. Rohr, President and Chief Executive Officer of Albemarle said, "The
addition of Akzo's catalyst business provides a new platform to broaden
Albemarle's portfolio of specialty chemicals and service solutions, and expands
our interaction with a global customer base that plays a key role in the world
economy.  We are impressed with the energy and talent our new employees bring
to Albemarle, and we are confident we can create value by building on this
strong marketing, manufacturing and technology leadership position."

Albemarle is acquiring production sites for HPC and FCC catalysts in Amsterdam
and Pasadena, Texas.  Additionally, Albemarle is acquiring 50 percent ownership
of non-consolidated joint ventures in Brazil (FCC SA), Japan (Nippon Ketjen)
and France (Eurecat, with affiliates in the US, Saudi Arabia and Italy).  The
transaction was financed through a new $1.2 billion senior credit facility and
bridge loan.

Ray Hurley, Vice President -- Catalysts, said, "I am very excited about the
future, given the many strengths of Albemarle and the long-term commitment to
the growth and success of our business.  Albemarle's core strengths will help
us further enhance our current market leadership positions in the fastest
growing catalyst segments, such as the rapidly expanding clean fuels catalyst
market, and help us establish ourselves into segments of the catalyst industry
where we are not currently active."

Albemarle Corporation, headquartered in Richmond, Virginia, is a leading
producer of specialty chemicals for consumer electronics; transportation and
industrial products; pharmaceuticals; agricultural products; construction and
packaging materials.  The company's three business segments, Polymer Additives,
Catalysts and Fine Chemicals (which includes custom manufacturing services for
the life sciences market) serve customers in more than 100 countries,
generating annual revenue of approximately $1.75 billion.  Learn more about
Albemarle at http://www.albemarle.com/. 

DATASOURCE: Albemarle Corporation



CONTACT:  Laura Ruiz, [phone], or Michael Whitlow,

[phone], both of Albemarle Corporation



Web site:  http://www.albemarle.com/

Copyright