Company Summary
Charlotte, NC-based Albemarle Corporation is a premier specialty chemicals company with leading positions in attractive end markets globally. It is a leading producer of highly-engineered specialty chemicals geared to meet customer requirements across a bevy of end markets including petroleum refining, consumer electronics, energy storage, construction and automotive.
Albemarle, in January 2015, completed its acquisition of Rockwood Holdings, Inc for $5.7 billion. Rockwood became a fully-owned subsidiary of Albemarle following the deal closure. The Rockwood acquisition has brought together two leading specialty chemicals makers with strong market positions and complimentary product portfolios.
Albemarle, in April 2018, completed the sale of its polyolefin catalysts and components business to W. R. Grace & Co. (GRA). Per the terms of the deal, the curatives and organometallics portions of the Performance Catalysts Solutions (PCS) business remain with Albemarle.
Effective Jan 1, 2023, the company realigned its segments into two core global business units — Albemarle Energy Storage and Albemarle Specialties.
The new Albemarle Energy Storage unit includes the hydroxide, carbonate, battery grade metal, and advanced energy storage businesses in the former Lithium business. The unit focuses on the lithium-ion battery evolution and the transition to clean energy. The Albemarle Specialties unit combines the earlier Bromine business with the Lithium specialties business and focuses on the company's bromine and highly specialized lithium solutions.
The company reports through three new segments — Energy storage, Specialties and Ketjen (the new brand name of the catalysts business) starting first-quarter 2023. It earlier had three reportable segments — Lithium, Bromine Specialties and Catalysts.
Albemarle recorded sales of $9.6 billion in 2023 with Energy Storage, Specialties and Ketjen segments accounting for 74%, 15% and 11%, respectively.