Albemarle will keep catalysts unit as a subsidiary, reorganize its lithium and bromine businesses

Albemarle has decided to retain its catalysts business but make it a subsidiary and to reorganize its other operations into battery and specialty chemical units. Catalysts is currently the smallest of the firm’s three major units. It had sales of $761 million in 2021, compared with $1.4 billion and $1.1 billion for Albemarle’s lithium and bromine businesses, respectively. When the changes are in place at the beginning of 2023, a unit called energy storage will house all battery, power generation, and related chemistries; the specialties unit will house Albemarle’s bromine operations plus any lithium chemicals not connected to energy.