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Albemarle Completes Sale of French Site

2:31 PM MST | January 12, 2009 | DEEPTI RAMESH

Albemarle says it has completed the previously announced sale of its Port-de-Bouc, France site to Azur Chimie, a wholly owned affiliate of International Chemical Investors Group (ICIG; Frankfurt). All equipment, buildings, and land, as well as certain other assets at Port-de-Bouc have been transferred to Azur Chimie, Albemarle says. Azur Chimie will toll manufacture certain products at the site for Albemarle. Albemarle expects to incur a pretax charge of $25 million-$30 million in the fourth quarter of 2008, related to the deal. “This strategic divestiture...

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