Albemarle Corporation has sold off its mineral flame retardants and specialty chemicals businesses to Huber Engineered Materials, a division of J M Huber Corporation, one of the global leaders in flame retardant additives. The transaction includes Albemarle’s Martinswerk GmbH subsidiary and manufacturing facility located in Bergheim (Germany) and Albemarle’s 50 percent stake in Magnifin Magnesiaprodukte GmbH, a joint venture with RHI AG at Breitenau, Austria.
Luke Kissam, president and CEO, Albemarle, said, “We continue to execute our plan to sell non-strategic businesses and assets which will allow Albemarle to enhance our focus on growth opportunities within our core businesses. This transaction supports our ongoing commitment to maximising value for our shareholders and positions these businesses to extend their rich history of leadership and success.”
Huber Engineered Materials, headquartered in Atlanta, Georgia (USA), is a manufacturer of engineered specialty ingredients that enhance the performance, appeal and processing of a broad range of products used in industrial and consumer-based applications. With an expertise in inorganic materials, it has a portfolio of high value products: specialty silicas and silicates, alumina trihydrate, magnesium hydroxide, molybdate compounds, and industrial, food and USP grade calcium carbonate.
