BATON ROUGE, La., April 11, 2013 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the development, manufacture and marketing of flame retardants, announced today that it expects to begin the supply of its GreenCrest™ polymeric fire safety solution for commercial qualification in expanded (EPS) and extruded polystyrene (XPS) foam applications by midyear of 2013, as scheduled. Previously, Albemarle completed lab scale qualification to the market with favorable results. Within 24 months of successful completion of commercial qualification, Albemarle expects to have GreenCrest available for commercial sale. This follows an earlier announcement regarding the expansion of the company's Orangeburg, SC plant for the production of GreenCrest.
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Albemarle's flame retardant business is part of the Company's fire safety solutions within the Polymer Solutions business segment.
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
Media Contact: Ashley Mendoza, (225) 388-7137, Ashley.Mendoza@albemarle.com, Investor Relations Contact: Lorin Crenshaw, (225) 388-7322, Lorin.Crenshaw@albemarle.com