Specialty chemicals maker Albemarle Corp. (Baton Rouge, LA) has taken another step toward its goal of being the “one source for all your antioxidant needs” by completing the acquisition of two polymer additive joint ventures in China. Albemarle supplies Ethanox and Ethaphos polymer antioxidants.
Finalized on June 30, Albemarle's agreement to acquire its two JVs—Ningbo Jinhai Albemarle Chemical & Industry Co. Ltd. and Shanghai Jinhai Albemarle Fine Chemicals Co. Ltd.—stipulates that they are now wholly owned subsidiaries of the company.
“Over the next three years, we expect to make significant progress toward our strategic growth objectives, as well as to become the number one green solutions provider to our chosen markets, including polymer additives,” says Albemarle president and CEO Mark Rohr. “Our growing workforce and productivity in China will play an important role in that strategy.”