Albemarle Advances Divestment Program

Albemarle has struck a deal to sell its mineral flame retardants business to Huber Engineered Materials for an undisclosed sum. The business, with annual sales of about $250 million, is one of three that Albemarle earmarked for divestment in early 2015. The firm just completed the sale of the second business, its $100 million-per-year metal sulfides operations, to Treibacher Industrie. Albemarle has reported no movement on the third business, fine chemistry services, which is a custom manufacturer of drug and agricultural chemicals with annual sales of about $200 million.