Albemarle realigns global business units for growth and innovation

With an aim to increase customer focus, enhance innovation and accelerate growth, Albemarle Corporation has announced realignment of its global business units, effective January 1, 2014. The company's assets will be aligned within two global business units (GBUs). The Performance Chemicals GBU will include Fire Safety Solutions, Specialty Chemicals and Fine Chemistry Services, consolidating the company's bromine, mineral and custom manufacturing assets under one business unit. The Catalyst Solutions GBU will include Refinery Catalyst Solutions, Performance Catalyst Solutions and Antioxidants.
 
Each GBU will have a dedicated team of sales, R&D, process engineering, manufacturing and sourcing, and business strategy personnel and will have full accountability for improving execution through greater asset and market focus, agility and responsiveness.  The new structure will also facilitate the continued standardisation of business processes across the organisation as part of the company's ongoing One Albemarle strategy.
 
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Matt Juneau will serve as Senior Vice President of Albemarle Corporation and President of Performance Chemicals.  D Michael Wilson will serve as Senior Vice President of Albemarle Corporation and President of Catalyst Solutions.  "Today's announcement reflects our commitment to grow in a sustainable manner through increased focus on our bromine and catalyst franchises," stated Luke Kissam, Chief Executive Officer, Albemarle, in a press release. 
 
He added, “The new structure will enable us to more rapidly develop and commercialize new applications for bromine, protect and grow our flame retardants business and more aggressively expand our catalyst business into new markets. The leaner management structure will enable faster decision-making while allowing us to redeploy resources to R&D, business development and sales to help accelerate our growth, with a longer-term goal of increasing R&D spending to approximately 4% of sales."