This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jordan Bromine Company Completes First Phase Of Expansion To Double Bromine Capacity

BATON ROUGE, La., March 7, 2013 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in the development, manufacture and marketing of bromine, bromine derivatives and other specialty chemicals, announced today that Jordan Bromine Company (JBC), its joint venture located on the Dead Sea in Safi, Jordan, successfully commissioned the first phase of its previously announced expansion project.  This phase of the project doubles the site's bromine production capacity.

(Logo: http://photos.prnewswire.com/prnh/20111129/MM14279LOGO

"This investment further strengthens JBC's position as the world's low-cost bromine producer and allows us to continue providing our customers around the world with quality products that drive value in their processes," commented Luke Kissam, Albemarle CEO. "I congratulate the joint JBC and Albemarle team on the safe and successful start-up.  The ingenuity of our teams working on the project allowed us to implement technology that doubles our bromine capacity while only increasing our water consumption by 8%, with further decreases planned.  This startup is proof of our commitment to safe and sustainable operations."  

The second phase of the expansion will double the current capacity of key bromine derivatives, hydrobromic acid, calcium bromide, and sodium bromide, and is scheduled for commissioning in May 2013. 

Jordan Bromine Company is a joint venture between Arab Potash Company and Albemarle Holding Company, Limited, a wholly owned subsidiary of Albemarle Corporation. "We are pleased with the progress on this significant capital expansion.  It further demonstrates JBC's operational capabilities and the commitment of Arab Potash Company and Albemarle to JBC maintaining its position as a leader in the global bromine market," said Jamal Al Sarayrah, Chairman of Arab Potash Company's board of directors.

The partners commenced construction of the existing facilities in 2001, and operations began in early 2003.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs