Albemarle Corporation : Albemarle announces production site for GreenCrest(TM) innovative polymeric fire safety solution
05/21/2012| 08:05am US/Eastern
BATON ROUGE, La., May 21, 2012 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the development, manufacture and marketing of flame retardants, announced today that it will manufacture the latest addition to its Earthwise(TM) portfolio of eco-friendly fire safety solutions at the company's Orangeburg, SC plant. The polymeric fire safety solution will be marketed under the trade name GreenCrest(TM).
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GreenCrest is a stable, high molecular weight polymeric flame retardant designed to gradually replace Hexabromocyclododecane (HBCD) for use in extruded (XPS) and expanded (EPS) polystyrene applications. Albemarle plans to commercialize the new technology in 2014.
"The selection of the production site for GreenCrest( ) is the next step in Albemarle's agreement to manufacture and market this premium technology and confirms the company's commitment to providing our customers with sustainable, innovative fire safety solutions that meet the increasing demands of global regulations and standards," said Brian Carter, Division Vice President of global brominated flame retardants.
Albemarle's Orangeburg facility is a fully commercial specialty chemicals facility serving all three of the company's global business units. The site has strategic access to warehousing and shipping from the United States' fourth largest container port in Charleston, SC, just 80 miles from the plant. "The Orangeburg site offers several advantages to our ability to bring this product to market expediently. The proven abilities of our Orangeburg employees will be invaluable in this process," added Carter.
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