Albemarle's Jordan Bromine Completes Phase 1 of Expansion Project; Shares Down 1%, But At High End of 52 Week Range
Albemarle Corp. ( ALB ) said its joint venture Jordan Bromine Company (JBC), located on the Dead Sea in Safi, Jordan, has successfully commissioned the first phase of its previously announced expansion project. This phase of the project doubles the site's bromine production capacity.
The second phase of the expansion will double the current capacity of key bromine derivatives, hydrobromic acid, calcium bromide, and sodium bromide, and is scheduled for commissioning in May 2013.
ALB is down near 1% at just above $64 in a 52-week range of $50.88 - $67.75.