Albemarle Provides Update On Realignment Of Global Business Units

Albemarle Corporation

today provided an update to the previously announced realignment of its global business units resulting from its acquisition of Rockwood Holdings, Inc. in January. The company has announced its senior leadership team and business and functional leaders consistent with the realignment and will announce its first quarter operating results pursuant to the new structure. "I am pleased that the work we have done to date has been sound and thoughtful," stated Luke Kissam, president and chief executive officer. "Effective April 1(st) , we are operating in our new structure which aligns Albemarle's businesses to be market focused and allows us to more effectively leverage our combined resources on innovation and growth. I look forward to finalizing the full organizational design as rapidly as possible." As the company continues the organizational design process, it will work with the relevant works councils in the jurisdictions in which it operates. Albemarle has entered into a Communications Agreement with the German Works Councils that will govern this process in Germany and has commenced the negotiation process with a goal to announce the new structure as quickly as possible.