Issue Date: May 21, 2012
Albemarle Will Exit Phosphorus Business
Citing underperforming business, Albemarle says it will exit the phosphorus flame retardants market and close facilities in Avonmouth, England, and Nanjing, China. The specialty chemicals company says the shutdowns will cost between $5 million and $15 million and improve its earnings per share by 10 to 15 cents in 2013. Albemarle continues to produce brominated and mineral-based flame retardants.
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