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Albemarle Says Acquisitions to Help Double Revenue by 2015

Albemarle Corp., the world’s largest maker of oil-refinery catalysts, said mergers and acquisitions will add $1 billion to $1.2 billion to annual sales through 2015, helping the company double revenue.

Albemarle may spend more than $2 billion on acquisitions over five years, the Baton Rouge, Louisiana-based company said in presentation slides posted today on its website. Earnings per share will rise to $8.40 to $9.75 with the targeted amount of acquisitions, or $6.75 to $7.75 if none are completed, from $3.56 last year, the company said.

“This is not a pipe dream,” Chief Executive Officer Mark Rohr said in the presentation in New York, which was broadcast on the Internet. “These are real numbers up here.”

Albemarle plans to increase revenue from $2.4 billion last year to about $5 billion in 2015. Sales from existing businesses will climb 10 percent to 13 percent a year and the remainder of the growth will come from acquisitions, Albemarle said in the presentation. A commercial plant for making lithium carbonate, used in batteries, will start by 2013, the company said.

Earnings in 2015 are estimated to be $7.26 a share, according to the average estimate of three analysts surveyed by Bloomberg.

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