Albemarle to Expand Orangeburg, South Carolina Plant

Albemarle Corporation (NYSE: ALB) has announced plans to expand its Orangeburg, SC manufacturing operations to support growing demand for products in all three of its global business units and the manufacture of a new line of sustainable fire safety solutions.  The $65 million investment over the next 5 years is expected to add 20 jobs to support the expansion.

The expansion will occur between 2012 – 2016 and will add facilities to manufacture two new products in the company's Fine Chemistry Services business; GreenCrest^™, the company's latest addition to its Earthwise^™ portfolio of eco-friendly fire safety solutions in the Polymer Solutions business; and expansion of its organometallic production unit to support the growing Polymer Catalysts business. 

Albemarle proceeding with the expansion project is subject to final approval by the Orangeburg County Council.  The third and final reading related to the project is expected to occur on December 17^th.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.