Albemarle Corporation, a leader in the global specialty chemicals industry, announced today the successful completion of the previously announced sale of its polyolefin catalysts and components business to W. R. Grace & Co. (NYSE: GRA) in a cash transaction valued at approximately $416 million. The proceeds are subject to typical post-closing adjustments. The organometallics and curatives portions of the Performance Catalysts Solutions business remain with Albemarle.
“We are pleased this transaction completed as expected,” said Eric Norris, Albemarle Chief Strategy Officer. “This sale supports our ongoing commitment to maintaining a business portfolio that is in the best interest of our shareholders. We appreciate the contributions that the global polyolefin catalysts and components team has made to Albemarle over the years and we look forward to continuing our industry-leading efforts across our global businesses in lithium, catalysts and bromine specialties.”
