BATON ROUGE, La., March 7, 2013 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in the development, manufacture and marketing of bromine, bromine derivatives and other specialty chemicals, announced today that Jordan Bromine Company (JBC), its joint venture located on the Dead Sea in Safi, Jordan, successfully commissioned the first phase of its previously announced expansion project. This phase of the project doubles the site's bromine production capacity.
"This investment further strengthens JBC's position as the world's low-cost bromine producer and allows us to continue providing our customers around the world with quality products that drive value in their processes," commented Luke Kissam, Albemarle CEO. "I congratulate the joint JBC and Albemarle team on the safe and successful start-up. The ingenuity of our teams working on the project allowed us to implement technology that doubles our bromine capacity while only increasing our water consumption by 8%, with further decreases planned. This startup is proof of our commitment to safe and sustainable operations."
The second phase of the expansion will double the current capacity of key bromine derivatives, hydrobromic acid, calcium bromide, and sodium bromide, and is scheduled for commissioning in May 2013.
Jordan Bromine Company is a joint venture between Arab Potash Company and Albemarle Holding Company, Limited, a wholly owned subsidiary of Albemarle Corporation. "We are pleased with the progress on this significant capital expansion. It further demonstrates JBC's operational capabilities and the commitment of Arab Potash Company and Albemarle to JBC maintaining its position as a leader in the global bromine market," said Jamal Al Sarayrah, Chairman of Arab Potash Company's board of directors.
The partners commenced construction of the existing facilities in 2001, and operations began in early 2003.
"We are pleased that an existing multi-national business is reinvesting in Jordan to further grow its business," said Dr. Hatem Al-Halawani, Jordan Minister of Trade and Industry. "This project is proof of Jordan's powerful economic potential and encourages new capital programs which mean more jobs and more prosperity for the region."
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
Investor Relations Contact: Lorin Crenshaw, +1-225-388-7322, Lorin.Crenshaw@albemarle.com; Media Contact: Ashley Mendoza, +1-225-388-7137, Ashley.Mendoza@albemarle.com