Commodities

Albemarle targets over $100 mln in cost savings

Credit: REUTERS/Ivan Alvarado

Albemarle Corp said on Wednesday it had started a cost control program that targets over $100 million in savings in the next two years, as the world's largest lithium producer struggles with lower prices.

Nov 6 (Reuters) - Albemarle Corp ALB.N said on Wednesday it had started a cost control program that targets over $100 million in savings in the next two years, as the world's largest lithium producer struggles with lower prices.

The company said last month it would cut costs, but had not specified any amount.

Albemarle did not provide additional details on the program.

(Reporting by Taru Jain; Editing by Sriraj Kalluvila)

((Taru.Jain@thomsonreuters.com;))

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