Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,262.56 89.32 0.55%
S&P 500 1,842.98 12.37 0.68%
NASDAQ 4,034.16 11.47 0.29%
Ticker Volume Price Price Delta
STOXX 50 3,121.57 30.05 0.97%
FTSE 100 6,564.58 22.97 0.35%
DAX 9,250.05 76.34 0.83%
Ticker Volume Price Price Delta
NIKKEI 14,417.68 420.87 3.01%
TOPIX 1,166.55 30.46 2.68%
HANG SENG 22,696.01 24.75 0.11%

Albemarle focuses on growth and innovation with realignment of global business units



Albemarle focuses on growth and innovation with realignment of global business
                                    units

PR Newswire

BATON ROUGE, La., Sept. 23, 2013

BATON ROUGE, La., Sept. 23, 2013 /PRNewswire/ -- Delivering on its commitment
to sustainable growth, Albemarle Corporation (NYSE: ALB) announced today that
it will realign its global business units, effective January 1, 2014.  The new
organizational structure is designed to increase customer focus, enhance
innovation and accelerate growth.

(Logo: http://photos.prnewswire.com/prnh/20111129/MM14279LOGO )

The company's assets will be aligned within two global business units (GBUs).
The Performance Chemicals GBU will include Fire Safety Solutions, Specialty
Chemicals and Fine Chemistry Services, consolidating the company's bromine,
mineral and custom manufacturing assets under one business unit. The Catalyst
Solutions GBU will include Refinery Catalyst Solutions, Performance Catalyst
Solutions and Antioxidants.  Each GBU will have a dedicated team of sales,
R&D, process engineering, manufacturing and sourcing, and business strategy
personnel and will have full accountability for improving execution through
greater asset and market focus, agility and responsiveness.  The new structure
will also facilitate the continued standardization of business processes
across the organization as part of the company's ongoing One Albemarle
strategy.

Matt Juneau will serve as senior vice president of Albemarle Corporation and
president of Performance Chemicals.  Mr. Juneau has over thirty years'
experience in the chemical industry and has held leadership positions across
all of the Albemarle businesses and global sales during his career with the
company.

D. Michael Wilson will serve as senior vice president of Albemarle Corporation
and president of Catalyst Solutions.  Mr. Wilson recently joined Albemarle
after leaving FMC Corporation where he served as president of the Specialty
Chemicals Group. 

Dr. Ronald Zumstein will serve as senior vice president, Manufacturing, Supply
Chain and Process Excellence.  In this expanded role, Dr. Zumstein will lead
the supply chain, corporate engineering and LEAN teams and will also partner
with the GBU presidents to drive global manufacturing and sourcing
excellence.  In his over 20 years with Albemarle, Dr. Zumstein has excelled in
a wide variety of positions across manufacturing, health and safety, and R&D.

"Today's announcement reflects our commitment to grow in a sustainable manner
through increased focus on our bromine and catalyst franchises," stated Luke
Kissam, Albemarle's chief executive officer.  "The new structure will enable
us to more rapidly develop and commercialize new applications for bromine,
protect and grow our flame retardants business and more aggressively expand
our catalyst business into new markets. The leaner management structure will
enable faster decision-making while allowing us to redeploy resources to R&D,
business development and sales to help accelerate our growth, with a
longer-term goal of increasing R&D spending to approximately 4% of sales.  I
am pleased to have Matt and Michael serving as leaders of the GBUs and to have
Ron leading our drive towards manufacturing and supply chain excellence.  I am
confident that their experience, shared vision for our company and proven
ability to execute will enable us to achieve our goals."

With the release of its 2013 10-K in March 2014, the company will provide
financial transparency for each of the two new business units.

About Albemarle

Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading
global developer, manufacturer, and marketer of highly-engineered specialty
chemicals for consumer electronics, petroleum refining, utilities, packaging,
construction, automotive/transportation, pharmaceuticals, crop protection,
food-safety and custom chemistry services. The Company is committed to global
sustainability and is advancing its eco-practices and solutions in its three
business segments, Polymer Solutions, Catalysts and Fine Chemistry. Corporate
Responsibility Magazine selected Albemarle to its prestigious "100 Best
Corporate Citizens" list for 2010, 2011 and 2013.  Albemarle employs
approximately 4,200 people and serves customers in approximately 100
countries. Albemarle regularly posts information to www.albemarle.com,
including notification of events, news, financial performance, investor
presentations and webcasts, Regulation G reconciliations, SEC filings, and
other information regarding the Company, its businesses and the markets we
serve.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: Statements in this press release regarding Albemarle Corporation's
business that 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.

SOURCE Albemarle Corporation

Website: http://www.albemarle.com
Contact: Media Contact: Ashley Mendoza, (225) 388-7137,
Ashley.Mendoza@albemarle.com; or Investor Relations Contact: Lorin Crenshaw,
(225) 388-7322, Lorin.Crenshaw@albemarle.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement