Albemarle to Relocate Corporate Headquarters to Louisiana
BATON ROUGE, La., April 30 /PRNewswire-FirstCall/ -- The board of directors of leading global specialty chemicals manufacturer Albemarle Corporation (NYSE:ALB) has approved a move of its corporate headquarters to Baton Rouge from Richmond, Va., continuing a series of strategic changes designed to strengthen the sustainability of the company and establish a platform for future growth.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050801/ALBEMARLELOGO ) "We are focused on maximizing Albemarle's global position to create long-term value and momentum, and relocating our corporate headquarters to Louisiana is a key element of this strategy," said Albemarle President and CEO Mark C. Rohr.
The company had considered combining executive and administrative offices for some time and evaluated several cities in the southeast. "There were many factors that drove our decision, but we were particularly impressed with the level of collaboration between the State administration, the City-Parish and the local business community to meet our needs and drive the process," Rohr said. "Ultimately, the combination of the new administration's ability to drive progressive initiatives for the State, our confidence in the direction of the City of Baton Rouge, and the close proximity to many of our key customers and suppliers, made it clear that Louisiana is the right choice for Albemarle. "Albemarle has a rich history in Baton Rouge, with over 600 employees and nearly 700 retirees living in the area, so we are very pleased to formally name Louisiana as our corporate headquarters," Rohr continued. "With a $15 million catalyst manufacturing expansion well under way, a new, $6 million polymer R&D lab under construction, and a multi-million dollar renovation of our downtown offices in progress, Albemarle is raising its stake in both the state and local economies. We look forward to continued growth and remain committed to the region's economic success." Albemarle Corporation (NYSE:ALB) is a leading global developer, manufacturer and marketer of highly engineered specialty chemicals for consumer electronics; petroleum and petrochemical processing; transportation and industrial products; pharmaceuticals; agricultural products; and construction and packaging materials. The company operates in three business segments-polymer additives, catalysts and fine chemicals-and serves customers in approximately 100 countries. Learn more about Albemarle at www.albemarle.com. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business which 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. FCMN Contact: rene_milligan@albemarle.com Photo: http://www.newscom.com/cgi-bin/prnh/20050801/ALBEMARLELOGO
CONTACT: Media, Stephanie Dixon, +1-225-388-7904, Web site: http://www.albemarle.com/
2008-04-30 18:15:11 0349762 PRNEWSWIRE
HOME || Press Release Archive || © Leigh Media Corporation || Terms of Use || Privacy Policy || Publish Your Press Release Here |