) announced that its catalyst manufacturing plant at its facility
in Yeosu, South Korea, has come online. The plant will produce
commercial quantities of single site metallocene catalysts, which
will include grades enhanced by Albemarle's proprietary ActivCat
activation technology, along with catalyst components such as
The plant in Yeosu is the latest investment that Albemarle has
made to cater to the growing global demand for metallocene and
single site finished catalysts. The state-of-the- art Yeosu
facility will provide a fully integrated platform to produce lab,
pilot and commercial quantities of metallocene catalysts to meet
the increasing needs of polyolefin producers around the world,
including those in the high-growth Asia-Pacific region. Albemarle
now guarantees abundant supply of metallocene catalyst with its
plants now located at both Yeosu and Baton Rouge.
Albemarle is a leading maker of specialty chemicals for
consumer electronics, petroleum refining, utilities, packaging,
construction, automotive/transportation, pharmaceuticals, crop
protection, food-safety and custom chemistry services.
Albemarle came out with its second-quarter 2013 results on Jul
17. The company reported adjusted earnings (excluding
non-operating items) of 97 cents a share in the quarter compared
with $1.28 a share earned in the year-ago quarter. The results
were below the Zacks Consensus Estimate of 99 cents.
Profit, as reported, was $82.7 million or 98 cents per share.
This represents a 65% increase from $50.1 million or 56 cents per
share posted in the prior-year quarter.
Revenues decreased 7.4% to $634.2 million in the quarter from
$684.9 million in the year-ago quarter, missing the Zacks
Consensus Estimate of $660 million. The results were impacted by
its exit from the phosphorus flame retardants business, lower
metals surcharges, unfavorable pricing in bromine portfolio and
lower Fine Chemistry Services volumes, partly offset by favorable
volumes in Refinery Catalysts and Brominated Flame Retardant
Albemarle retains a Zacks Rank #4 (Sell).
Other companies in the chemical industry worth considering are
Northern Technologies International Corp.
Cytec Industries Inc.
Eastman Chemical Co.
). All of them hold a Zacks Rank #2 (Buy).
ALBEMARLE CORP (ALB): Free Stock Analysis
CYTEC INDS INC (CYT): Free Stock Analysis
EASTMAN CHEM CO (EMN): Free Stock Analysis
NORTHERN TECH (NTIC): Free Stock Analysis
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