Albemarle Breaks Ground for China Technology Center
December 26 , 2005
RICHMOND, Va. -- Albemarle Corporation (NYSE: ALB - News), a leading global specialty chemical company, announced it has begun site preparation for constructing a technology center in China.
Albemarle broke ground last week at its site in Nanjing, China, where it will build a technology center as well as a facility for the repackaging of aluminum alkyl polyolefin catalysts. The company announced in July that it had entered into a letter of intent to acquire the land needed for the center.
Albemarle's Dr. Ron Zumstein, vice president of health, safety, and environment, and Scott Sutton, managing director of Asia Pacific operations, joined leaders of the Nanjing government and the Nanjing Chemical Industry Park in the site celebration. The technology center, which will provide technical support for sales of polymer additives in the Asia Pacific region, is expected to begin operations in July 2006.
"Thanks to the tremendous efforts and hard work of our employees and those they are working with in the local community, our work at developing Albemarle's new site in Nanjing is progressing in 'record time,'" Sutton said. "Our technology center will serve as a sustainable foundation for providing solutions for our current and future customers in China and the surrounding region."
Albemarle Corporation, headquartered in Richmond, is a leading global developer, manufacturer and marketer of bromine, bromine derivatives, and other highly engineered specialty chemicals for consumer electronics; petroleum and petrochemical processing; transportation and industrial products; pharmaceuticals; agricultural products; and construction and packaging materials. The Company operates in three business segments - Polymer Additives, Catalysts and Fine Chemicals, and serves customers in approximately 100 countries
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
