UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report(Date of earliest
event reported) July 9, 2001
ALBEMARLE CORPORATION
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(Exact name of registrant as specified in charter)
Virginia 1-12658 54-1692118
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
330 South Fourth Street, P. O. Box 1335, Richmond, Virginia 23218
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code - (804) 788-6000
Former name or former address, if changed since last report - N/A
Item 5. Other Events and Regulation FD Disclosures.
On July 9, 2001, Albemarle Corporation issued the Press Release attached as
Exhibit 99 hereto.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit
Number
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99 Press Release of Albemarle Corporation dated July 9, 2001.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto authorized.
Date: July 10, 2001 Albemarle Corporation
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/s/ Robert G. Kirchhoefer
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Robert G. Kirchhoefer
Treasurer & Chief Accounting
Officer
Exhibit 99
July 9, 2001
Ray Kozakewicz
225-388-7424
Mike Zobrist
225-388-8180
Albemarle Corporation Acquires
Custom and Fine Chemicals Businesses
Richmond, Virginia, July 9, 2001 -- Albemarle Corporation (NYSE:ALB)
announced the completion of its acquisition of the custom and fine chemicals
businesses of ChemFirst Inc.(NYSE:CEM) for $74 million, plus approximately $5
million to reflect changes in the working capital actually transferred versus
assumed working capital at December 31, 2000. The Asset Purchase Agreement also
provides for additional contingent payments to ChemFirst not expected to exceed
$10 million.
John Steitz, Vice President -- Fine Chemicals, said: "The acquisition
creates strong synergies with our pharmachemicals and agrichemicals businesses.
By joining our businesses, we now have an advanced portfolio of products with
more chemistries, faster time to market and additional customer relationships.
Our goal is to dramatically populate our new products' pipeline for the future."
Albemarle's new businesses focus on the manufacture of custom and
proprietary fine chemicals and chemical services for the pharmaceutical and life
sciences industries. They also include additives for ultraviolet light-cured
polymer coatings, broadening the portfolio of Albemarle's polymer chemicals
business. Included is a multi-functional manufacturing plant in Tyrone,
Pennsylvania, and a cGMP pilot plant in Dayton, Ohio, adding the capability to
economically offer small-volume, value-added chemicals and versatile cGMP
capacity, complementing Albemarle's existing large-volume manufacturing
facilities.
A global leader in specialty and fine chemicals that enhance consumer
products, Albemarle Corporation serves markets for polymers, surfactants and
biocides, pharmaceuticals, agricultural chemicals, photographic chemicals, water
treatment and petroleum products.
Albemarle Cautionary Note on Forward Looking Statements
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Some of the information contained in this release constitutes forward looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. Although Albemarle Corporation believes its expectations are based on
reasonable assumptions within the bounds of its knowledge of its business and
operations, there can be no assurance that actual results will not differ
materially from its expectations. Factors which could cause actual results to
differ from expectations include, without limitation, the timing of orders
received from customers, the gain or loss of significant customers, competition
from other manufacturers, changes in demand for the Company's products,
increases in the cost of the product, changes in the market in general,
fluctuations in foreign currencies and significant changes in new product
introduction resulting in an increase in capital project requests and approvals
leading to capital spending.
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