Albemarle buys controlling share in two Chinese JVs

Baton Rouge, Louisiana - Albemarle Corp. is to increase its ownership to 75 percent (from 25 percent) in two joint ventures: Ningbo Jinhai Albemarle Chemical & Industry Co., Ltd. and Shanghai Jinhai Albemarle Fine Chemicals Co., Ltd. Both companies smake and sell polymer antioxidants and the associated intermediates. The proposed increase in ownership is subject to approval by the Chinese authorities.

This strategic acquisition, said Albemarle, will alllow, "deeper vertical integration in polymer antioxidants and intermediates. The Jinhai Albemarle joint ventures currently supply antioxidants to many Chinese petrochemical companies, and Albemarle will use its global presence to enhance exports from both joint venture plants to the growing regional and global plastics and rubber marketplace.

Albemarle's Ethanox and Ethaphos polymer antioxidants help maintain the performance integrity and processing stability of polyolefin plastics, elastomers, adhesives and other materials.

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Press release from Albemarle