Albemarle expands electronic materials catalyst portfolio by acquiring
Cambridge Chemical Company, Ltd.
BATON ROUGE, La., Oct. 8, 2013
BATON ROUGE, La., Oct.8, 2013 /PRNewswire/ -- Albemarle Corporation (NYSE:
ALB) announced today that it has expanded its presence in the electronic
materials market with the acquisition of Cambridge Chemical Company, Ltd.
Based in Cambridge, UK, Cambridge Chemical is a key technology player in the
production of high purity metal organic chemicals used in the laser
market.Albemarle plans to continue producing these specialty products at
Cambridge Chemical's existing facilities in the UK.
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Cambridge Chemical's technology and products will further strengthen
Albemarle's offerings in the electronic materials market, including the light
emitting diodes (LED), semiconductor, organic light emitting diodes (OLEDs)
and now laser segments. Albemarle will also benefit from a number of R&D and
distribution synergies resulting from the acquisition.
"By adding Cambridge Chemical's DEOX™ technology to our existing PureGrowth™
portfolio, Albemarle will now provide an even broader array of solutions to
customers in the fast growing electronics market," commented Jenny S. Hebert,
global business manager for Albemarle's Electronic Materials business. "The
expanded portfolio not only strengthens our current offerings, it also allows
us to expand into the laser segment. The combined synergies will allow
Albemarle to provide best-in-class products and services, which is key to our
global success in the industry."
"Our Electronic Materials business is a critical growth platform for us, built
upon our extensive expertise in organometallic chemistry, our effectiveness in
backward integration of key raw materials and our reputation for quality,"
said Raphael Crawford, global vice president for Albemarle's Performance
Catalyst and Specialty Chemicals division. "The acquisition of Cambridge
Chemical adds unique technological capabilities, distribution channels, and
expertise to our list of existing assets, allowing us to bring even greater
value to our customers."
The acquisition of Cambridge Chemical was completed on October 1, 2013. Terms
of the agreement were not disclosed.
Albemarle launched its Electronic Materials business unit in January 2012.
Since then, Albemarle has successfully launched four products within its
PureGrowth™ portfolio, which are used in metal organic chemical vapor
deposition (MOCVD), a process used to manufacture components for LED bulbs and
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
"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
Contact: Media, Ashley Mendoza, (225) 388-7137, Ashley.Mendoza@albemarle.com,
or Investor Relations, Lorin Crenshaw, (225) 388-7322,
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