Scribd Logo
Upload

Welcome to Scribd!

  • Ferro To Sell Flame Retardants Business To Albemarle - Re - BATON ROUGE, La., Jan

    Uploaded by

    Henry Liu
    37 views3 pages
    Ferro Corporation agreed to sell its flame retardant business, including its PYRO-CHEK product line and a plant in France, to Albemarle Corporation. The sale will help Ferro reposition its specialty chemicals portfolio by divesting a non-core business, while expanding Albemarle's flame retardant products and production capabilities. Production of PYRO-CHEK will continue at Ferro's Indiana facility for a period before being transitioned to Albemarle's expanded France plant. The transaction supports both companies' strategic plans.

    Original Description:

    Business info

    Original Title

    Ferro to Sell Flame Retardants Business to Albemarle -- Re_ BATON ROUGE, La., Jan

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Ferro Corporation agreed to sell its flame retardant business, including its PYRO-CHEK product line and a plant in France, to Albemarle Corporation. The sale will help Ferro reposition its specialty chemicals portfolio by divesting a non-core business, while expanding Albemarle's flame retardant products and production capabilities. Production of PYRO-CHEK will continue at Ferro's Indiana facility for a period before being transitioned to Albemarle's expanded France plant. The transaction supports both companies' strategic plans.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    37 views3 pages

    Ferro To Sell Flame Retardants Business To Albemarle - Re - BATON ROUGE, La., Jan

    Uploaded by

    Henry Liu
    Ferro Corporation agreed to sell its flame retardant business, including its PYRO-CHEK product line and a plant in France, to Albemarle Corporation. The sale will help Ferro reposition its specialty chemicals portfolio by divesting a non-core business, while expanding Albemarle's flame retardant products and production capabilities. Production of PYRO-CHEK will continue at Ferro's Indiana facility for a period before being transitioned to Albemarle's expanded France plant. The transaction supports both companies' strategic plans.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 3

    3/10/2015

    FerrotoSellFlameRetardantsBusinesstoAlbemarlere>BATONROUGE,La.,Jan.20/PRNewswire/

    FerrotoSellFlameRetardantsBusinesstoAlbemarle
    ()

    Facebook()

    Tw itter

    Pinterest

    BATONROUGE,La.,Jan.20/PRNewswire/FerroCorporation(NYSE:FOE)
    andAlbemarleCorporation(NYSE:ALB)announcedtodaythattheyhavereached
    anagreementinprincipleforFerrotosellitsPYROCHEK7flameretardant
    business,alongwithaplantatPortdeBouc,France,toAlbemarle,aglobal
    supplierofflameretardantsandotherspecialtychemicals.
    Ferro'sPYROCHEKproductionfacilitiesarelocatedatthecompany'sKeil
    ChemicalfacilityinHammond,IndianaandatitsplantinPortdeBoucwhere
    productioncapacityisbeingexpanded.AlbemarlewouldproducePYROCHEK
    flameretardantatPortdeBouc.Toeasethetransition,PYROCHEKproduction

    http://www.prnewswire.com/newsreleases/ferrotosellflameretardantsbusinesstoalbemarle72149902.html

    1/3

    3/10/2015

    FerrotoSellFlameRetardantsBusinesstoAlbemarlere>BATONROUGE,La.,Jan.20/PRNewswire/

    willcontinueattheHammondfacilityforashorttimeafterthesale.The
    KeilfacilityinHammondwillcontinuetoproduceitsmainproductlineof
    petroleumadditives.
    HectorR.Ortino,Ferrochairmanandchiefexecutiveofficer,stated,
    "Whiletheflameretardantbusinesshasbeenanimportantpartofour
    specialtychemicalssegmentovertheyears,itclearlyfitsbetterwithin
    Albemarle'sportfolio.LikeothercorebusinesseswithinFerro,themakeupof
    ourspecialtychemicaloperationswillbechangingaswepursueourmost
    attractiveopportunities.Thisdivestituresupportsourstrategyto
    repositionourportfolioofbusinesses.Asalwaysinthesesituations,weare
    committedtohelpingeasethetransitionforthededicatedandtalentedKeil
    employeesaffectedbythisstrategicdecision."
    FerroCorporation'sspecialtychemicalssegmentalsoincludespolymer
    additives,petroleumadditivesandfineorganicintermediates.
    MarkRohr,Albemarle'spresidentandchiefoperatingofficer,said,"The
    additionofthePYROCHEKproductsandtheplantatPortdeBoucarepartof
    ourstrategicplantoexpandanddiversifyAlbemarle'sflameretardant
    portfolioandwouldallowAlbemarletoprovidemorechoicestomeetcustomer's
    needsinengineeringthermoplastics.
    "ThePortdeBoucmanufacturingplantwouldincreaseAlbemarle's
    capabilitytosupplythisglobalmarketandthepurchasewouldallowcustomers
    toobtainacompleterangeofbrominatedpolystyreneflameretardantsfrom
    Albemarle.Albemarlecurrentlyoffersitsownlineofbrominatedpolystyrene
    flameretardantsasSAYTEX(R)HP7010flameretardants."
    Aglobalsupplierofspecialtyandfinechemicalsthatenhanceconsumer
    products,AlbemarleCorporationservesmarketsforpolymers,surfactantsand
    biocides,pharmaceuticals,agriculturalchemicals,photographicchemicals,
    watertreatment,oilfieldchemicalsandpetroleumproducts.Formore
    informationonAlbemarle,visittheCompany'sWebsiteat
    http://www.albemarle.com.

    ALBEMARLECONTACT:JohnMcChesney
    225/3887755

    FERROCONTACT:AidanGormley
    Manager,InvestorRelations
    216/8757155

    AlbemarleCautionaryNoteonForwardLookingStatements

    Someoftheinformationcontainedinthisreleaseconstitutesforward
    lookingstatementswithinthemeaningofthePrivateSecuritiesLitigation
    ReformActof1995.AlthoughAlbemarleCorporationbelievesitsexpectations
    arebasedonreasonableassumptionswithintheboundsofitsknowledgeofits
    businessandoperations,therecanbenoassurancethatactualresultswill
    notdiffermateriallyfromitsexpectations.Factorswhichcouldcauseactual
    resultstodifferfromexpectationsinclude,withoutlimitation,thetimingof

    http://www.prnewswire.com/newsreleases/ferrotosellflameretardantsbusinesstoalbemarle72149902.html

    2/3

    3/10/2015

    FerrotoSellFlameRetardantsBusinesstoAlbemarlere>BATONROUGE,La.,Jan.20/PRNewswire/

    ordersreceivedfromcustomers,thegainorlossofsignificantcustomers,
    competitionfromothermanufacturers,changesindemandfortheCompany's
    products,increasesinthecostoftheproduct,changesinthemarketin
    general,fluctuationsinforeigncurrenciesandsignificantchangesinnew
    productintroductionresultinginanincreaseincapitalprojectrequestsand
    approvalsleadingtocapitalspending.

    SOURCEAlbemarleCorporationandFerroCorporation

    http://www.prnewswire.com/newsreleases/ferrotosellflameretardantsbusinesstoalbemarle72149902.html

    3/3

    You might also like