Albemarle Corporation, a manufacturer of highly-engineered specialty chemicals, on November 5, 2015 signed a definitive agreement to sell its Tribotecc metal sulfides business to Treibacher Industrie AG, an international leading player in the chemistry and metallurgy sectors. The transaction includes sites in Vienna and Arnoldstein, Austria and Tribotecc's proprietary sulfide synthesis process.
Luke Kissam, Albemarle's president and CEO, 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 maximise 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.”
The sale is subject to customary closing conditions and is expected to close by the end of 2015.
