Albemarle Completes the Sale of its Port de Bouc, France Facility to International Chemical Investors Group
Albemarle Corporation and International Chemical Investors Group announced that Albemarle Chemicals SAS, a wholly owned affiliate of Albemarle Corporation, has completed the sale of its facility in Port de Bouc, France to Azur Chimie SAS, a wholly owned affiliate of ICIG, effective December 31, 2008. Albemarle has transferred to Azur Chimie all equipment, buildings, land and certain other assets at the Port de Bouc, France plant. Azur Chimie will toll manufacture certain products for Albemarle. As a result of the sale, Albemarle expects to incur a pre-tax charge of approximately $25 to $30 million in the 4th quarter of 2008.
"We are very pleased to complete this transaction in such a timely and orderly fashion and to continue our mutually beneficial relationship with ICIG," said Ron Gardner, Vice President of Albemarle's Fine Chemicals segment. "This strategic divestiture will position us to better focus on our core business initiatives."
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