Engineering News

Albemarle subsidiary sells France facility
Friday January 2, 2009, 8:51 am EST

Albemarle unit sells France subsidiary to affiliate of International Chemical Investors Group

BATON ROUGE, La. (AP) -- Specialty chemical maker Albemarle Corp. said Friday that one of its subsidiaries has sold its facility in France to an affiliate of International Chemical Investors Group.

The ICIG-owned affiliate, called Azur Chimie, bought all equipment, buildings, land and other assets at the Port de Bouc, France plant from the subsidiary, called Albemarle Chemicals SAS.

The terms of the deal were not disclosed. The sale was effective as of Wednesday.

As a result of the sale, Albemarle said it will incur a pretax charge of about $25 million to $30 million in its fourth quarter.

Source: Associated Press

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