Press release from PR Newswire
Albemarle to increase prices of SAYTEX® HP-900 (P)/(G) brominated flame retardants
Thursday, May 17, 2012
BATON ROUGE, La., May 17, 2012 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the development, manufacture and marketing of flame retardants, announced today that it will increase prices of SAYTEX HP-900 (P)/(G) (hexabromocyclododecane) globally by 20% effective immediately, or as contracts allow.
"The backbone of SAYTEX HP-900 is cyclododecatriene (CDT). We have seen extreme volatility in both price and availability of CDT since the unfortunate accident at Evonik's German plant in March 2012," said Brian Carter, Albemarle's Vice President of Brominated Flame Retardants. "This increase is necessary to address the impact of price increases of CDT and to ensure we can continue to meet the needs of the growing customer base for HP-900."
Albemarle's brominated flame retardants are part of the Company's fire safety solutions within the Polymer Solutions business segment.
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 and 2011. Albemarle employs approximately 4,000 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
For further information: Media: Ashley Mendoza, +1-225-388-7137, Ashley.Mendoza@albemarle.com; Investor Relations: Lorin Crenshaw, +1-225-388-7322, Lorin.Crenshaw@albemarle.com