) announced that it will realign its global business units (GBUs)
with effect from Jan 1, 2014. The company will align its assets
within two GBUs.
The new organizational structure will allow the company to
increase its customer focus, enhance innovation and accelerate
growth. Each of these GBUs will have their own sales, research
and development, process engineering, manufacturing and sourcing
and business strategy units and personnel.
One of them will be the Performance Chemicals GBU which will
include Fire Safety Solutions, Specialty Chemicals and Fine
Chemistry Services, integrating the company's bromine, mineral
and custom manufacturing assets under one business unit.
Albemarle announced that the GBU will be lead by Matt Juneau who
has more than 30 years experience in the chemical industry.
The other unit -- The Catalyst Solutions GBU -- will include
Refinery Catalyst Solutions, Performance Catalyst Solutions and
Antioxidants. Albemarle appointed D. Michael Wilson as the
president of Catalyst Solutions, who recently joined the company
According to Albemarle, the new structure will allow it to
develop and commercialize new applications for bromine, protect
and grow its flame retardants business and expand its catalyst
business into new markets more quickly. The company expects to
hasten its decision making process through the move and achieve
its long term goal of increasing R&D spending to roughly 4%
Baton Rouge, LA-based Albemarle is a premier global developer,
producer and marketer of highly-engineered specialty chemicals
for consumer electronics, petroleum refining, utilities,
packaging, construction, automotive/transportation,
pharmaceuticals, crop protection, food-safety and custom
chemistry services. The company currently holds a Zacks Rank #4
Other companies in the chemical industry with favorable Zacks
The Eastman Chemical Co.
). Both hold a Zacks Rank #2 (Buy).
ALBEMARLE CORP (ALB): Free Stock Analysis
DU PONT (EI) DE (DD): Free Stock Analysis
EASTMAN CHEM CO (EMN): Free Stock Analysis
FMC CORP (FMC): Free Stock Analysis Report
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