Specialty chemicals company
) declared that it will increase the price of ETHANOX 4703 on all
shipments worldwide by 95 cents per kilogram. The price hike is
effective immediately or as per the contracts.
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Albemarle's antioxidants business is a part of its Polymer
Solutions segment. The Polymer Solutions unit develops and
produces antioxidants for lubricants, petroleum and biodiesel
fuels. ETHANOX antioxidants increase the stability, improve the
performance and expand the storage life of lubricants and fuels
Albemarle also produces ETHANOX antioxidants for the
manufacturers of polyolefins. It retains the physical properties
during the manufacturing process, including the color of the
final product. These antioxidants are found in the applications
of slit film, wire and cable, food, packaging and pipes.
Baton Rouge, La.-based Albemarle, a global leader in the
development, manufacture and marketing of bromine, bromine
derivatives and other specialty chemicals, recently declared that
its joint venture, Jordan Bromine Company (JBC), has successfully
commissioned the first phase of its expansion project. The phase
doubles the bromine production capacity of the site. The
investment reinforces JBC's position as the world's low-cost
Albemarle, in Jan 2013, reported fourth-quarter 2012 adjusted
earnings of $1.17 a share compared with $1.13 per share earned in
the year-ago quarter. The results surpassed the Zacks Consensus
Estimate of 99 cents, reflecting a positive surprise of around
Albemarle's exit from the phosphorus business, absence of pension
obligations, its strong balance sheet and investments for future
growth are expected to benefit the company, going forward.
Albemarle currently retains a short-term Zacks Rank #3 (Hold).
Eastman Chemical Co.
) also belong to the diversified chemical industry. Each of them
holds a Zacks Rank #2 (Buy).