CHARLOTTE, N.C., Feb. 22, 2017 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a premier specialty chemicals company, announced today that Albemarle and Tianqi Lithium Corporation (Tianqi) have entered into a deed of termination, pursuant to which Tianqi's exercise of a previously announced option to acquire a 20% indirect ownership interest in Rockwood Lithium GmbH and its subsidiaries has been terminated. In accordance with the deed of termination, the option agreement has been terminated and the exercise of the option by Tianqi will cease to have any legal effect.
Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC, is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-added, customized solutions that make them more competitive. Our solutions combine the finest technology and ingredients with the knowledge and know-how of our highly experienced and talented team of operators, scientists and engineers.
Discovering and implementing new and better performance-based sustainable solutions is what motivates all of us. We think beyond business-as-usual to drive innovations that create lasting value. Albemarle employs approximately 4,500 people and serves customers in approximately 100 countries. We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
"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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/albemarle-and-tianqi-terminate-option-for-indirect-minority-interest-in-albemarle-subsidiary-300411924.html
SOURCE Albemarle Corporation
Media Contact: Susan Richardson, (980) 299-5672, Susan.Richardson@albemarle.com; Investor Relations Contact: Matt Juneau, (225) 388-7940, Matt.Juneau@albemarle.com