Albemarle Expands its Biofuels Catalyst Portfolio by Acquiring Catilin, Inc.
BATON ROUGE, La., May 11, 2011 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) announced today that it has expanded its presence in the biofuels market with the acquisition of Catilin Inc. Based in Ames, Iowa, Catilin is a technology leader in the development and application of heterogeneous biodiesel catalysis. Catilin's technology and products will further strengthen Albemarle's offerings for the renewable fuels market. Albemarle will also benefit from a number of R&D and distribution synergies resulting from the acquisition.
"We are excited to offer Catilin technology along-side our existing GoBio(TM) portfolio to customers in the fast growing renewable fuels market," says John Nicols, Albemarle's Vice President of Catalysts. "Albemarle is committed to expanding our presence in this market and to offering our global customers a broader portfolio of biofuel catalysts."
Terms of the agreement were not disclosed.
Albemarle launched its Alternative Fuel Technology (AFT) division in 2007. Since then, Albemarle has grown into the world's largest supplier of heterogeneous catalysts to the biofuels market. Albemarle has successfully launched eight products within its GoBio(TM) portfolio for first, second, and third generation biomass conversion.
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer, and marketer of highly-engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services. The Company is committed to global sustainability and is advancing its eco-practices and solutions in its three business segments, Polymer Solutions, Catalysts and Fine Chemistry. Corporate Responsibility Magazine selected Albemarle to its prestigious "100 Best Corporate Citizens" list for 2010 and 2011. Albemarle employs approximately 4,000 people and serves customers in approximately 100 countries. Albemarle regularly posts information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, Regulation G reconciliations, SEC filings, and other information regarding the Company, its businesses and the markets we serve.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business that 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.