Albemarle to increase price of COMPALOX® and PERGOPAK® specialty material products
BATON ROUGE, La., Sept. 30, 2014 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leading producer of activated alumina and organic matting agents and its subsidiary, Martinswerk GmbH, announced today that it will increase prices on all shipments globally of COMPALOX products by an average of 10% and PERGOPAK products by an average of 8.5%, effective immediately, or as contracts allow.
Albemarle and Martinswerk GmbH are committed to ensuring a reliable product supply to service customers' needs. This commitment includes continued investments in manufacturing and appropriate product testing.
COMPALOX activated alumina products are used in Hydrogen Peroxide production, the pharmaceutical industry and drinking water purification. PERGOPAK products are primarily used as matting agents for paints and coatings. These specialty products are part of Albemarle's Specialty Chemicals business segment within the Performance Chemicals global business unit.
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 two global business units: Performance Chemicals and Catalyst Solutions. Corporate Responsibility Magazine selected Albemarle to its prestigious "100 Best Corporate Citizens" list for 2010, 2011 and 2013. Albemarle employs approximately 3,900 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