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People & Business :: Companies
Albemarle to Exit Phosphorous Flame Retardants
1:45 PM MDT | May 18, 2012 | —Robert Westervelt
Albemarle says it will exit the phosphorous flame retardants business, and will shut related capacity at its Avonmouth, UK and Nanjing, China sites. The affected business had annual revenues of $50 million-$70 million, and had posted recent losses, says a company spokesperson. Albemarle expects to complete the shutdown over the next three to six months. The plan to cease operations at the Avonmouth, UK site is subject to consultation with its employees, which has begun. The cash outlay related to the shutdowns is expected to be $5 million-$15 million with payback...
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