Albemarle enters into definitive agreement to sell antioxidant, ibuprofen and propofol businesses to SI Group

Albemarle enters into definitive agreement to sell antioxidant, ibuprofen and
                       propofol businesses to SI Group

PR Newswire

BATON ROUGE, La., April 16, 2014

BATON ROUGE, La., April 16, 2014 /PRNewswire/ --Albemarle Corporation (NYSE:
ALB), a leading manufacturer of highly-engineered specialty chemicals,
announced today that it has signed a definitive agreement to sell certain
assets to SI Group, a leading global developer and manufacturer of chemical
intermediates, specialty resins, and solutions. Included in the transaction
are Albemarle's antioxidants and FDA-regulated ibuprofen and propofol
businesses and assets, with manufacturing sites in Orangeburg, South Carolina
and Jinshan, China; and Albemarle's antioxidant product lines. Certain
applications and technical support capabilities in Shanghai, China and Baton
Rouge, Louisiana will also be included in the transaction. Terms of the
transaction were not disclosed.

Albemarle Corp. Logo

Albemarle's President and CEO, Luke Kissam, said, "This transaction is the
next step in our previously announced realignment and reflects our commitment
to growing in a sustainable manner through increased focus on maximizing the
value of and growing our core businesses. With this transaction, we are
placing the antioxidants, ibuprofen and related businesses in the hands of a
company with a long history and a proven record of successful integrations and
growth. This sale represents the optimal choice to maximize value for our
shareholders while positioning these businesses to extend their track record
of industry leadership and success going forward."

The acquisition is subject to customary closing conditions and is expected to
close later in 2014.

BofA Merrill Lynch is acting as exclusive financial advisor to Albemarle in
connection with this transaction.

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 two
global business units: Performance Chemicals and Catalyst Solutions. Corporate
Responsibility Magazine selected Albemarle to its prestigious "100 Best
Corporate Citizens" list for 2010, 2011 and 2013. Albemarle employs
approximately 3,900 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.

About SI Group

SI Group is a leading global developer and manufacturer of chemical
intermediates, specialty resins, and solutions. Founded in 1906 and
headquartered in Schenectady, New York, SI Group is a family-owned company
with facilities in 10 countries. For more information about SI Group, visit
www.siigroup.com.

"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.

Logo- http://photos.prnewswire.com/prnh/20111129/MM14279LOGO

SOURCE Albemarle Corporation

Website: http://www.albemarle.com
Contact: Albemarle Media Contact: Ashley Mendoza, (225) 388-7137,
Ashley.Mendoza@albemarle.com; Albemarle Investor Relations Contact: Lorin
Crenshaw, (225) 388-7322, Lorin.Crenshaw@albemarle.com; SI Group Media
Contact: Brooke Manrique, (518) 347-4112, brooke.manrique@siigroup.com
 
Press spacebar to pause and continue. Press esc to stop.