Specialty chemicals company
) declared that its joint venture, Jordan Bromine Company (JBC),
has successfully commissioned the first phase of its
earlier-announced expansion project. The phase doubles the
bromine production capacity of the site. The investment
reinforces JBC's position as the world's low-cost bromine
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The successful startup is attributed to the skill of JBC's teams
and implementation of technology that boosts bromine capacity.
The investment enables JBC to provide quality products to its
This project is a testimony of JBC's commitment to safe and
sustainable operations and will also help in new job creation.
The significant capital expansion explains Jordan's powerful
economic potential and prosperity of the region.
JBC, situated on the Dead Sea in Safi, Jordan, is a joint venture
between Arab Potash Company and Albemarle Holding Company,
Limited, a fully-owned subsidiary of Albemarle. The commissioning
of the second phase of expansion project has been scheduled in
May 2013. The second phase of the expansion is set to double the
current capacity of bromine derivatives, hydrobromic acid,
calcium bromide and sodium bromide.
Albemarle, a global leader in the development, manufacture and
marketing of bromine, bromine derivatives and other specialty
chemicals, reported fourth-quarter 2012 adjusted earnings of
$1.17 a share compared with $1.13 per share earned in the
Revenues were $687.6 million in the quarter, down 4% from $707.4
million in the year-ago quarter. Sales were impacted by lower
metal surcharges in the Catalysts segment, more than offsetting
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 Zacks Rank #3 (Hold).
Air Products & Chemicals Inc.
) also belong to the diversified chemical industry. Each of them
holds a Zacks Rank #2 (Buy).