Movements come with fast footprint adjustments to its Kemerton web page in Australia, in addition to a complete evaluate of value and working construction
CHARLOTTE, N.C., July 31, 2024 /PRNewswire/ — Albemarle Company (NYSE: ALB), a world chief in offering crucial components for mobility, power, connectivity and fitness, nowadays introduced it has introduced a complete evaluate of its value and working construction, in addition to fast asset movements at its Kemerton lithium processing web page in Australia. The corporate is taking those steps to proactively reply to ongoing trade headwinds, in particular within the lithium price chain, so it could saving long-term competitiveness.
Albemarle’s movements relating to Kemerton are a part of a broader try that can focal point on refer to key boxes:
- Retaining Albemarle’s world-class useful resource benefits
- Optimizing its international conversion community
- Bettering the corporate’s value competitiveness and potency
- Decreasing capital depth
- Bettering Albemarle’s monetary flexibility
Those movements are a part of the corporate’s complete evaluate of its value and working construction. The corporate expects to record extra main points all through its 3rd quarter income name.
“The long-term growth potential for our end markets remains strong, and we plan to leverage our core capabilities while ensuring we remain competitive,” stated Albemarle Chairman and CEO Kent Masters. “Given the dynamics of the global markets we serve, we must be able to pivot and pace as necessary to maintain our leading position.”
As a part of the preliminary evaluate to optimize its community, Albemarle nowadays introduced adjustments to the working footprint at its Kemerton lithium hydroxide conversion web page in Australia. The corporate will:
- Prevent development actions at Educate 3
- Inactive manufacturing at Educate 2 and playground the unit in assist and upkeep
- Center of attention production efforts at the endured ramp and qualification of Educate 1
In a distant press drop issued nowadays, Albemarle immune its 2nd quarter 2024 income effects. The corporate will serve additional main points on its conference call to discuss its second quarter financial results at 8 a.m. EDT on Thursday, Aug. 1, 2024.
About Albemarle
Albemarle Company (NYSE: ALB) leads the sector in remodeling crucial sources into important substances for mobility, power, connectivity and fitness. We spouse to pioneer fresh tactics to proceed, energy, tied and give protection to with crowd and planet in thoughts. A decent and top quality international provide of lithium and bromine lets in us in order complicated answers for our shoppers. Be informed extra about how the crowd of Albemarle are enabling a extra resilient international at Albemarle.com, LinkedIn and on X (previously referred to as Twitter) @AlbemarleCorp.
Albemarle steadily posts data to www.albemarle.com, together with notification of occasions, information, monetary efficiency, investor displays and webcasts, non-GAAP reconciliations, U.S. Securities and Change Fee filings and alternative data in regards to the corporate, its companies and the markets it serves.
Ahead-Taking a look Statements
This press drop accommodates statements relating to our expectancies, anticipations, intentions, ideals or methods in regards to the while, which represent forward- shopping statements throughout the that means of the Non-public Securities Litigation Reform Function of 1995. Those forward-looking statements, which can be in response to guesses that we have got made as of the day hereof and are topic to identified and unknown dangers and uncertainties that might purpose fresh effects, statuses and occasions to vary materially from the ones expected, incessantly include phrases corresponding to “anticipate,” “believe,” “could,” “estimate,” “expect,” “focus,” “intend,” “may,” “should,” “would,” “will” and diversifications of such phrases and indistinguishable expressions. Ahead-looking statements might come with, with out limitation, statements relating to while or anticipated: value discounts, asset movements, capital initiatives, marketplace and financial developments, and all alternative data with regards to issues that don’t seem to be historic information. Elements that might purpose our fresh effects to vary materially from the outlook expressed or implied in any forward-looking commentary come with, with out limitation: adjustments in financial and industry statuses; antagonistic adjustments in liquidity or monetary or working efficiency; fluctuations in lithium marketplace costs, and the alternative elements clear from date to date within the studies we document with the U.S. Securities and Change Fee, together with the ones described underneath “Risk Factors” in our Annual Record on Mode 10-Okay and our Quarterly Stories on Mode 10-Q. Those forward-looking statements discuss handiest as of the day of this press drop. We think deny legal responsibility to serve any revisions to any forward-looking statements must cases exchange, except for as in a different way required by way of securities and alternative appropriate regulations.
Investor Members of the family Touch: Meredith Bandy, +1 (980) 999-5768, [email protected]
Media Touch: Peter Smolowitz, +1 (980) 308-6310, [email protected]
SOURCE Albemarle Company
