Welcome to our dedicated page for Albemarle news (Ticker: ALB), a resource for investors and traders seeking the latest updates and insights on Albemarle stock.
Albemarle Corporation (NYSE: ALB) is described as a global leader in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. News about Albemarle often highlights its activities in lithium and bromine, portfolio developments, organizational changes and financial performance, giving investors and observers insight into how the company manages its role in critical minerals and specialty chemicals.
On this page, readers can follow Albemarle’s earnings announcements, including quarterly results where the company discusses net sales, segment performance in areas such as Energy Storage, Specialties and Ketjen, cost and productivity initiatives, and outlook considerations based on observed lithium market price scenarios. Earnings-related news typically includes details on conference calls and webcasts that accompany these disclosures.
Company news also covers strategic portfolio actions, such as Albemarle’s agreement to sell a controlling stake in Ketjen’s refining catalyst solutions business to an affiliate of KPS Capital Partners and the planned sale of its 50% stake in the Eurecat joint venture to Axens SA. These items shed light on how Albemarle is focusing on its core businesses, improving financial flexibility and streamlining operations while retaining certain interests in catalyst-related activities.
Additional updates may describe organizational structure changes, leadership transitions, dividend declarations and Albemarle’s participation in critical mineral supply chains, including offtake and prepayment arrangements connected to lithium and cesium. By reviewing the news feed, users can track how Albemarle communicates its strategy, manages its portfolio and responds to market conditions over time.
On October 29, 2021, Albemarle Corporation (NYSE: ALB) addressed an arbitration decision related to a dispute between Huntsman Corporation and Rockwood Holdings. This dispute originates from a transaction that occurred in 2013 and closed in 2014, before Albemarle owned Rockwood. The company has expressed disbelief over the arbitration panel's ruling, asserting it lacks evidence and contradicts New York law. Albemarle is currently evaluating its legal options, including potentially vacating the award.
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Albemarle Corporation (NYSE: ALB) will participate in a virtual fireside chat hosted by Oppenheimer & Co. Inc. on Nov. 8, 2021, at 11:00 a.m. ET. The chat will feature Eric Norris, President of Lithium, and Glen Merfeld, Chief Technology Officer of Lithium. Presentation materials will be available during the event on Albemarle's website. The live event is exclusive to Oppenheimer clients, with a replay accessible approximately 30 minutes post-event.
Albemarle Corporation (NYSE: ALB) has declared a quarterly dividend of $0.39 per share, with an annualized rate of $1.56. This dividend is scheduled for payment on January 3, 2022, to shareholders on record as of December 17, 2021. Albemarle specializes in chemicals, focusing on lithium, bromine, and catalysts, aiming for sustainable growth across key industries like energy and transportation.
On October 22, 2021, Albemarle Corporation (NYSE: ALB) announced strategic investments in China to enhance its lithium conversion capacity. The company has signed agreements with the Yangtze River International Chemical Industrial Park and the Pengshan Economic Development Park, aiming to construct lithium hydroxide conversion plants with a targeted capacity of 50,000 metric tons annually at each site. Construction is expected to commence in 2022 and conclude by the end of 2024, supporting Albemarle's commitment to customer growth and sustainability.
Albemarle Corporation (NYSE: ALB) has released its inaugural Community Impact Report through the Albemarle Foundation, highlighting its philanthropic initiatives in 2020. The Foundation, established in 2007, aims to make a sustainable difference in local communities, distributing over $5.6 million in grants in 2020 and more than $46 million since its inception. The report showcases the commitment of employees and partners to the Foundation's mission, supporting education, health, and cultural initiatives.
Albemarle Corporation (NYSE: ALB) announced the acquisition of Guangxi Tianyuan New Energy Materials Co., Ltd. for approximately $200 million. This acquisition is part of Albemarle's strategy to enhance lithium production capabilities, responding to the growing demand in the clean energy sector. Tianyuan operates a newly constructed lithium processing plant in Guangxi, China, aimed to commence commercial production in early 2022 with a capacity of 25,000 metric tons LCE. The acquisition aligns with Albemarle's goal to improve conversion capacity in a capital-efficient manner.
Albemarle Corporation (NYSE: ALB) announced it will release its third-quarter 2021 earnings on November 3, 2021, after NYSE closure. A conference call to discuss the results will be held on November 4, 2021, at 9:00 a.m. ET. This call will provide insights into the company’s financial performance and future outlook. Interested parties can access the call via Albemarle's website or by phone. The company operates in the specialty chemicals sector, focusing on lithium, bromine, and refining catalysts, and aims for sustainable practices in its operations.
On September 10, 2021, Albemarle Corporation (NYSE: ALB) hosted its 2021 Investor Day, presenting its long-term strategy for growth. CEO Kent Masters highlighted the company's commitment to electrification and sustainability, emphasizing the new operating model, the Albemarle Way of Excellence. Key topics included plans to increase lithium conversion capacity, expand the Catalysts business in emerging markets, and enhance bromine production. The company reaffirmed its 2021 financial guidance and projected a 25%-35% increase in adjusted EBITDA for 2022, alongside ambitious long-term financial targets.
Albemarle Corporation (NYSE: ALB) has initiated a third-party assessment using the Initiative for Responsible Mining Assurance's (IRMA) Standard for Responsible Mining at its lithium brine extraction site in Northern Chile. This makes Albemarle the first global lithium producer to undergo such rigorous auditing. The assessment, conducted by ERM Certification and Verification Services, will evaluate 26 areas, including water management and human rights. Albemarle also commits to reducing freshwater use intensity by 25% by 2030 in high-risk areas, and it shares 3.5% of revenues with local indigenous communities.
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