Albemarle Corporation, a manufacturer of highly-engineered specialty chemicals, announced November 5 that it has signed a definitive agreement to sell its Tribotecc metal sulfides business to Treibacher Industrie AG, an international player in the chemistry and metallurgy sectors. Included in the transaction are sites in Vienna and Arnoldstein, Austria and Tribotecc's proprietary sulfide synthesis process.
Albemarle's president and CEO Luke Kissam said, "This transaction furthers Albemarle's strategic plan of focusing on our core bromine, lithium, catalysts and surface treatment businesses. This sale represents the optimal choice to maximize shareholder value for Albemarle while positioning Tribotecc to extend its track record of industry leadership, excellent customer service, and success going forward. I expect the strong foundation built by the Tribotecc team will enable continued success under new ownership."
"Today's announcement is another step in Treibacher's business development and continues our growth strategy," CFO Rainer Schmidtmayer said in a statement. "The acquisition of a global leading manufacturer of metal sulfides, located here in Carinthia, aligns with our long-term strategy to be an Austrian based innovative leader in high performance materials, providing high-quality products for differentiated markets worldwide."
The sale is subject to customary closing conditions and is expected to close by the end of 2015. Financial terms of the transaction were not disclosed.
Albemarle Corporation, a specialty chemicals company, headquartered in Baton Rouge, Louisiana, develops, manufactures and markets technologically advanced and high value added products, including lithium and lithium compounds, bromine and bromine derivatives, catalysts and surface treatment chemistries used in a wide range of applications including consumer electronics, flame retardants, metal processing, plastics, contemporary and alternative transportation vehicles, refining, pharmaceuticals, agriculture, construction and custom chemistry services. The Company employs approximately 6,900 people and serves customers in approximately 100 countries.
Treibacher Industrie AG, a privately owned enterprise, is an international company with over 100 years of experience in chemistry and metallurgy. At its headquarters in Althofen (Austria) and sites in Toronto (Canada), Shanghai (China), and Tokyo (Japan), Breitungen (Germany), Treibacher Industrie AG develops and manufactures ferro alloys for the steel and foundry industries, powders for the carbide industry, materials for high performance ceramics as well as fine chemicals and special alloys. Treibacher employs approximately 780 people and is selling its products through its worldwide sales network in about 60 countries.
