This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Albemarle And Senze Meilu Form Mineral Flame Retardant Joint Venture

Stocks in this article: ALB

BATON ROUGE, La., May 14, 2013 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) and Senze Meilu Company, of Shanxi, China, announced today that the two companies have signed definitive agreements to establish a joint venture company in Lvliang, Shanxi.  Upon final approval from the relevant government authorities in China, the venture, Albemarle Senze Chemicals ( Shanxi) Company, Ltd., will build and operate a new 50,000 MT facility to manufacture MARTINAL ® fine precipitated alumina trihydrate (ATH) flame retardants based on Albemarle's proprietary technology principally used in wire and cable applications. 

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

"This venture will advance our position in the fastest growing segments of the wire and cable markets in Asia and India and complement Albemarle's existing world scale production facility in Bergheim, Germany.  The combined assets will further position Albemarle as a leading player in key flame retardant technologies and markets around the globe," said Troy DeSoto, Albemarle's global vice president, Flame Retardants.

"We have worked for some time to identify the right partner to develop a plant to produce MARTINAL in China. We are very pleased to partner with Senze, which is back integrated into raw materials essential to efficient ATH production. The combination of Albemarle's technology with Senze's world scale bauxite and alumina production capabilities will make this joint venture a platform for success for both companies," said Matt Juneau, Albemarle's vice president, Polymer Solutions.

Production at the new facility is expected to begin in mid-2015. Albemarle, as majority stakeholder, will market MARTINAL on behalf of the joint venture in the high-growth Asia-Pacific and Indian markets.

Senze's Chairman, Mr. Liu Jiping, said, "Over the last several years, Senze has established itself as a leading player in the bauxite market in China.  We then began an aggressive expansion program that culminated with the start-up of our Bayer plant last year.  Our partnership with Albemarle will increase our ability to participate in specialty markets for alumina, and we anxiously await the start-up of the joint venture plant in 2015."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs