BATON ROUGE, La., April 1, 2008 /PRNewswire-FirstCall/ -- Albemarle Corporation and Jinhai Albemarle will increase the prices of their polymer antioxidants, additive blends and orthoalkylated phenols by up to 15 percent worldwide, effective immediately, or as contracts and sales agreements allow.
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"The demand for effective antioxidants continues to rise dramatically even as pressures on the global economy have forced unprecedented increases in raw materials, packaging and shipping costs," said John McChesney, manager of Albemarle's global additives business. "These price increases will allow Albemarle to continue to support our clients' business objectives with the highest level of customer satisfaction through sustained investment in innovation and service, increased capacity, and new products."
Albemarle's polymer antioxidants business is part of the company's Polymer Additives business segment. ETHANOX(R) and ETHAPHOS(R) polymer antioxidants and ALBlend(R) polymer additive blend packages help maintain the performance integrity and processing stability of polyolefin plastics, elastomers, adhesives and other materials. With a goal of being the "One Source for All Your Antioxidant Needs,"(TM), Albemarle has built a reputation for quality and reliability worldwide.
Jinhai Albemarle consists of a pair of antioxidant joint ventures in China: Ningbo Jinhai Albemarle Chemical & Industry Co., Ltd. and Shanghai Jinhai Albemarle Fine Chemicals Co., Ltd. Jinhai Albemarle, which is 75- percent owned by Albemarle Corporation, specializes in the manufacture and marketing of polymer antioxidants and associated intermediates, and supplies antioxidants to many Chinese petrochemical companies.
Albemarle Corporation, headquartered in Richmond, Virginia, 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 http://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.
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