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Issue 18/2022 - Albemarle announces a series of business changes

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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Albemarle recently announced that, following a strategic review, it has decided to establish a separate, wholly owned subsidiary
for the catalyst business.
The company will restructure its global business units for bromine and lithium to establish Albemarle's Specialty Chemicals and Energy Storage divisions
.

Previously, in September 2021, Yapole announced a new strategic positioning of the Catalysts business unit, with a focus on India and Southeast Asia, focusing on the crude oil cracking chemicals market, biodiesel hydrogenation to renewable fuels, and cracking-based biofuels
.
Yaguale also announced a strategic review of its catalysis business to determine the best way to
support its growth strategy.
It was finalized that Yabao's business would be held
as a separate entity.

Yabale is currently in the process of transferring its catalyst business to a new structure, which is expected to be completed
in about 18 months.
Agribemarle's new Specialty Chemicals segment will include the current Mine business as well as the Lithium Specialty Chemicals business in the current Lithium business
.
The remaining lithium business unit will be transferred to the Energy Storage division, covering the current lithium business lithium hydroxide, carbonate, battery-grade lithium metal and advanced energy storage business
.

The organizational changes are expected to take effect on January 1, 2023, at which time Yaguale will report
financially under the Energy Storage, Specialty Chemicals and Catalysts businesses.

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