Specialty chemical company
) announced the opening of a new Research and Operations Center
(ROC) in its Yeosu facility in South Korea. The facility currently
manufactures lab-scale and pilot-scale quantities of single site
catalysts and components used in the polymer industry by deploying
the company's ActivCat and Advantage technologies
ALBEMARLE CORP (ALB): Free Stock Analysis
CHEMTURA CORP (CHMT): Free Stock Analysis
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The state-of-the-art ROC will boast new analytical and
polymerization labs to conduct research on the single site
catalysts and components used in the polymer industry and enhance
production. The ROC will also ensure faster development of new
catalysts and considerably reduce time-to-market for the products.
Moreover, the ROC is expected to create more businesses throughout
Asia Pacific for Albemarle's commercial plant slated to be
operational at the Yeosu site by late 2012.
The company's board also approved an expansion program at the Yeosu
facility to produce Albemarle's PureGrowth products. The expansion
is expected to be completed in 2013. The products are used in metal
organic chemical vapor deposition (MOCVD), a process used to
manufacture chips for semiconductors, LEDs, and optoelectronic
Albemarle Corporation, is a leading global developer, manufacturer
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.
Last month, Albermale released its second quarter 2012 results. The
company's earnings (excluding one-time charges) came in at $1.24
per share exceeding the Zacks Consensus Estimate by a penny. After
including one-time charges of 82 cents per share, earnings came in
at 42 cents compared with $1.23 in the year-ago quarter. Revenue
for the quarter plunged 7.7% to $684.9 million compared with $742.1
million in the second quarter of 2011.
The company, which competes with
) maintains a Zacks #3 Rank, which translates into a short-term (1
to 3 months) Hold rating. We currently have a long-term Neutral
recommendation on the shares of Albermale.