BATON ROUGE, La., Dec. 18 /PRNewswire-FirstCall/ -- Albemarle Corporation, an innovative leader in the global specialty chemicals market, recently announced that Milan R. Shah has been named Vice President, Business Development, effective immediately. In his new role, Mr. Shah will target and develop external opportunities for the company to increase its revenues and earnings through strategic initiatives, partnerships, joint ventures and potential merger and acquisition ("M&A") activities. Mr. Shah will report to Richard J. Diemer, Senior Vice President and Chief Financial Officer of Albemarle. Mr. Shah replaces John Dabkowski, who will be retiring from the company after 35 years of service.
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Mr. Shah has an extensive background in mergers and acquisitions, raising capital and corporate strategy evaluation. Most recently, Mr. Shah served as a senior investment banker in Deutsche Bank Securities' Chemicals Investment Banking group, where he worked with many of the leading names in the chemical industry, including Albemarle, on financings, portfolio management, M&A execution and strategy development. At Deutsche Bank, Mr. Shah held positions of increasing executive responsibility at the firm's Chicago, London and New York offices.
"Milan knows our business model extremely well and he has been a strong supporter of Albemarle's growth strategy for many years," said Mr. Diemer. "His knowledge of our business, as well as his financial services and chemical industry expertise, will position him to hit the ground running as we identify synergistic opportunities for growth."
Mark C. Rohr, Chairman, President and Chief Executive Officer of Albemarle added, "Milan is the right person to build upon the solid foundation John Dabkowski has established in our business development and strategic planning activities. We welcome Milan to Albemarle and extend our gratitude and appreciation to John for his many years of outstanding service to our company."
Mr. Shah will be based at the Company's headquarters in Baton Rouge, Louisiana.
About Albemarle Corporation
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, 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
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