BATON ROUGE, La., Feb. 7, 2013 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global developer, manufacturer and marketer of highly engineered specialty chemicals and services, announced today that its Fine Chemistry Services (FCS) business has approved and begun construction on another expansion of its Tyrone, Pennsylvania custom manufacturing facility.
"This $30 million expansion adds new capacity to the site for custom manufacturing projects, but more importantly, will improve the infrastructure to allow for future incremental and low-cost expansions as we gain new projects from customers. This rapid response and flexibility are hallmarks of the Tyrone operating culture," says Randy Andrews, Tyrone Site manager.
"We are pleased once again to expand the Tyrone site to serve the growing product needs of our customers. This expansion comes shortly after our earlier expansion that began operation in November 2012 and will fuel the continued growth of FCS's custom manufacturing business. We are anxious to take advantage of the eventual 40% increase in reactor capacity. The first increment of new capacity will be operational late in the first quarter of 2014," said David DeCuir, FCS Business Director.
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.
Albemarle's Fine Chemistry Services (FCS) division is an innovative, full-service provider of fine chemicals to the world's leading companies across the pharmaceutical, agrichemical, and specialty materials markets. Albemarle's FCS division helps global customers complete hundreds of successful projects through a powerful combination of proven chemistry expertise, game-changing process development, high-quality custom manufacturing and exceptional service. From innovative R&D to commercial-scale production, Albemarle's FCS division delivers the knowledge, experience, resources, creativity and service you need to move products to market faster and accelerate your business. To learn more about Albemarle's FCS division, please visit www.albemarle.com/fcs.
"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
Ashley Mendoza, +1-225-388-7137, Ashley.Mendoza@albemarle.com, or Lorin Crenshaw, Investor Relations, +1-225-388-7322, Lorin.Crenshaw@albemarle.com