Albemarle Acquires Antioxidant Joint Ventures in China      

Albemarle Corporation (NYSE: ALB) has completed its acquisition of the 100% stake of two polymer additive joint ventures in China: Ningbo Jinhai Albemarle Chemical & Industry Co., Ltd. and Shanghai Jinhai Albemarle Fine Chemicals Co., Ltd.
    The agreement was completed on June 30th, near the one-year anniversary of Albemarle's acquisition of a majority ownership stake in the "Jinhai Albemarle" JVs in July 2007. With the new, 100% ownership agreement, both facilities are now wholly owned subsidiaries of Albemarle Corporation.
    Albemarle announced earlier this year to double antioxidant production capacity at the Shanghai facility. (CCR2008 No. 9)
    "Our aim is to continue to provide even broader solutions for our customers in China and the growing regional and global marketplace," said John Sun, division vice president of Albemarle's stabilizers and curatives business and managing director of Albemarle's China operations.
    The acquisition of a complete stake in Jinhai Albemarle is the latest step forward on the path outlined in Vision 2010, the company's strategy to drive financial and operational excellence by using Albemarle's capacity for innovation to address societal challenges.
   Over the next three years, Albemarle expects to make significant progress toward its strategic growth objectives, as well as to become the number one green solutions provider to its chosen markets, including polymer additives. The growing workforce and productivity in China will play an important role in that strategy.