Aug 3 2007
Albemarle Corporation has acquired a controlling interest in its two antioxidant joint ventures in China: Ningbo Jinhai Albemarle Chemical & Industry Co., Ltd. and Shanghai Jinhai Albemarle Fine Chemicals Co., Ltd. Albemarle's ownership interest increased from 25 percent to 75 percent.
The "Jinhai Albemarle" joint ventures specialize in the manufacture and marketing of polymer antioxidants and associated intermediates, and currently supply antioxidants to many Chinese petrochemical companies. Albemarle also will use its global presence to increase exports from both joint venture plants to the growing regional and global plastics marketplace.
"This strategic acquisition provides Albemarle deeper vertical integration in polymer antioxidants and intermediates, and serves as a launching pad for continued growth both inside and outside of China," said Scott Sutton, Albemarle Division Vice President of Stabilizers and Curatives.
Plastics processors worldwide use Albemarle's ETHANOX(R) and ETHAPHOS(R) polymer antioxidants to help maintain the performance integrity and processing stability of polyolefin plastics, elastomers, adhesives and other materials. With a goal of being the "One Source for All Your Antioxidant Needs,"(TM) Albemarle has built a reputation for product quality, reliability and solid customer technical service.